EXHIBIT 11
UNITED TECHNOLOGIES CORPORATION AND SUBSIDIARIES
Statement Re: Computation of Per Share Earnings
For the Five Years Ended December 31, 2001
(Millions of Dollars, except per share amounts)
2001 | 2000 | 1999 | 1998 | 1997 | ||||||
Net Income | $ | 1,938 | $ | 1,808 | $ | 1,531 | $ | 1,255 | $ | 1,072 |
ESOP Convertible Preferred Stock dividend | (31) | (32) | (33) | (33) | (32) | |||||
Basic earnings per period | $ | 1,907 | $ | 1,776 | $ | 1,498 | $ | 1,222 | $ | 1,040 |
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ESOP Convertible Preferred Stock adjusment | 28 | 28 | 28 | 28 | 27 | |||||
Diluted earnings for period | $ | 1,935 | $ | 1,804 | $ | 1,526 | $ | 1,250 | $ | 1,067 |
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Basic average number of shares outstanding during the period (thousands) | 470,252 | 470,124 | 465,611 | 455,534 | 468,886 | |||||
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Stock awards (thousands) | 9,156 | 11,256 | 13,806 | 11,944 | 11,756 | |||||
ESOP Convertible Preferred Stock (thousands) | 25,978 | 26,630 | 27,287 | 27,282 | 26,468 | |||||
Diluted average number of shares outstanding during the period (thousands) | 505,386 | 508,010 | 506,704 | 494,760 | 507,110 | |||||
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Basic earnings per common share | $ | 4.06 | $ | 3.78 | $ | 3.22 | $ | 2.68 | $ | 2.22 |
Diluted earnings per common share | $ | 3.83 | $ | 3.55 | $ | 3.01 | $ | 2.53 | $ | 2.10 |