The Home Depot, Inc. (HD) 10-Q 2002 Q3 Quarterly report

Exhibit 11.1

THE HOME DEPOT, INC. AND SUBSIDIARIES

COMPUTATION OF BASIC AND DILUTED

EARNINGS PER SHARE

(In Millions, Except Per Share Data)
	Three Months Ended				Nine Months Ended
	October 28,		October 29,		October 28,		October 29,
	2001		2000		2001		2000
BASIC
Net Earnings Available to Common Shareholders	$	778	$	650	$	2,334	$	2,116
Weighted Average Number of Common Shares Outstanding	2,337		2,317		2,332		2,313
Basic Earnings Per Share	$	0.33	$	0.28	$	1.00	$	0.91
DILUTED
Net Earnings Available to Common Shareholders	$	778	$	650	$	2,334	$	2,116
Weighted Average Number of Common Shares Outstanding	2,337		2,317		2,332		2,313
Effect of Potentially Dilutive Securities:
Employee Stock Plans	15		35		18		39
Weighted Average Number of Common Shares Outstanding Assuming Dilution	2,352		2,352		2,350		2,352
Diluted Earnings Per Share	$	0.33	$	0.28	$	0.99	$	0.90

Employee stock plans represent options and shares granted under the Company’s employee stock purchase, stock option and deferred compensation stock plans.