Procter & Gamble Co – ‘10-Q’ for 9/30/02 – EX-11

On:  Thursday, 10/31/02, at 2:41pm ET   ·   For:  9/30/02   ·   Accession #:  80424-2-168   ·   File #:  1-00434

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Quarterly Report   —   Form 10-Q
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-Q        Quarterly Report -- jas0210q                          22     81K 
 2: EX-11       Jas02-10-Q                                             1      7K 
 3: EX-12       Jas02-10-Q - Exhibit 12                                1      7K 
 4: EX-99       Jas02-10-Q - Certifications                            2      8K 

EX-11   —   Jas02-10-Q

                                                        [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       
                                                                     September 30          
                                                                2002              2001     
                                                           ---------------   --------------
                                                                                           
BASIC NET EARNINGS PER SHARE                                                               
----------------------------                                                               
Net earnings                                                      $ 1,464           $ 1,104
Preferred dividends, net of tax benefit                                32                32
                                                           --------------    --------------
Net earnings available to common shareholders                     $ 1,432           $ 1,072
                                                           ==============    ==============

Basic weighted average common shares outstanding                  1,300.0           1,296.1
                                                           ==============    ==============

Basic net earnings per common share                                $ 1.10            $ 0.83
                                                           ==============    ==============

DILUTED NET EARNINGS PER SHARE                                                             
------------------------------                                                             
Net earnings                                                      $ 1,464           $ 1,104
Deduct preferred dividend impact on                                                        
       funding of ESOP                                                  2                 3
                                                           --------------    --------------
Diluted net earnings                                              $ 1,462           $ 1,101
                                                           ==============    ==============

Basic weighted average common shares outstanding                  1,300.0           1,296.1
Add potential effect of:                                                                   
       Conversion of preferred shares                                86.3              90.4
       Exercise of stock options                                     21.0              14.3
                                                           --------------    --------------

Diluted weighted average common shares outstanding                1,407.3           1,400.8
                                                           ==============    ==============

Diluted net earnings per common share                              $ 1.04            $ 0.79
                                                           ==============    ==============