Procter & Gamble Co – ‘10-Q’ for 3/31/03 – EX-11

On:  Tuesday, 4/29/03, at 3:21pm ET   ·   For:  3/31/03   ·   Accession #:  80424-3-21   ·   File #:  1-00434

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Quarterly Report   —   Form 10-Q
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Jfm '03 - 10-Q                                        22     87K 
 2: EX-2        Purchase Offer                                        46±   162K 
 3: EX-11       Jfm '03 - 10-Q (Exhibit 11)                            1      9K 
 4: EX-12       Jfm '03 - 10-Q (Exhibit 12)                            1      8K 
 5: EX-99       Jfm '03 - 10-Q (Exhibit 99-1 - CEO Cert)               1      7K 
 6: EX-99       Jfm '03 - 10-Q (Exhibit 99-2 CFO Cert)                 1      7K 

EX-11   —   Jfm ‘03 – 10-Q (Exhibit 11)

                                                        [Enlarge/Download Table]

                                                    EXHIBIT (11)                                                               

                                  THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES                                                
                                  ---------------------------------------------                                                
                                        Computation of Earnings Per Share                                                      
                                        ---------------------------------                                                      

Amounts in millions except per share amounts                                                                                   

                                                                                                                               
                                                                  Three Months Ended                 Nine Months Ended         
                                                                       March 31                           March 31             
                                                                2003              2002            2003               2002      
                                                           ---------------   ---------------  --------------    ---------------
BASIC NET EARNINGS PER SHARE                                                                                                   
----------------------------                                                                                                   
Net earnings                                                      $ 1,273           $ 1,039         $ 4,231            $ 3,442 
Preferred dividends, net of tax benefit                                31                31              94                 94 
                                                           ---------------   ---------------  --------------    ---------------
Net earnings available to common shareholders                     $ 1,242           $ 1,008         $ 4,137            $ 3,348 
                                                           ===============   ===============  ==============    ===============

Basic weighted average common shares outstanding                  1,293.5           1,297.9         1,296.8            1,296.4 
                                                           ===============   ===============  ==============    ===============

Basic net earnings per common share                                $ 0.96            $ 0.78          $ 3.19             $ 2.58 
                                                           ===============   ===============  ==============    ===============

DILUTED NET EARNINGS PER SHARE                                                                                                 
------------------------------                                                                                                 
Net earnings                                                      $ 1,273           $ 1,039         $ 4,231            $ 3,442 
Deduct preferred dividend impact on                                                                                            
       funding of ESOP                                                  2                 3               7                  9 
                                                           ---------------   ---------------  --------------    ---------------
Diluted net earnings                                              $ 1,271           $ 1,036         $ 4,224            $ 3,433 
                                                           ===============   ===============  ==============    ===============

Basic weighted average common shares outstanding                  1,293.5           1,297.9         1,296.8            1,296.4 
Add potential effect of:                                                                                                       
       Conversion of preferred shares                                84.7              88.2            85.5               89.3 
       Exercise of stock options                                     17.6              19.6            19.6               16.8 
                                                           ---------------   ---------------  --------------    ---------------

Diluted weighted average common shares outstanding                1,395.8           1,405.7         1,401.9            1,402.5 
                                                           ===============   ===============  ==============    ===============

Diluted net earnings per common share                              $ 0.91            $ 0.74          $ 3.01             $ 2.45 
                                                           ===============   ===============  ==============    ===============