EXHIBIT (11)
THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES
Computation of Earnings Per Share
Amounts in millions except per share amounts
|
| | | | | | | | | | | | | | | | | | | | |
| | | 2011 | | 2010 | | 2009 | | 2008 | | 2007 |
| BASIC NET EARNINGS PER SHARE | | | | | | | | | | |
| Net earnings from continuing operations | | $ | 11,797 |
| | $ | 10,946 |
| | $ | 10,680 |
| | $ | 11,291 |
| | $ | 9,662 |
|
| Preferred dividends, net of tax benefit | | 233 |
| | 219 |
| | 192 |
| | 176 |
| | 161 |
|
| Net earnings from continuing operations available to common shareholders | | $ | 11,564 |
| | $ | 10,727 |
| | $ | 10,488 |
| | $ | 11,115 |
| | $ | 9,501 |
|
| Net earnings from discontinued operations | | — |
| | 1,790 |
| | 2,756 |
| | 784 |
| | 678 |
|
| Net earnings available to common shareholders | | $ | 11,564 |
| | $ | 12,517 |
| | $ | 13,244 |
| | $ | 11,899 |
| | $ | 10,179 |
|
| | | | | | | | | | | |
| Basic weighted average common shares outstanding | | 2,804.0 |
| | 2,900.8 |
| | 2,952.2 |
| | 3,080.8 |
| | 3,159.0 |
|
| | | | | | | | | | | |
| Basic net earnings per common share - continuing operations | | $ | 4.12 |
| | $ | 3.70 |
| | $ | 3.55 |
| | $ | 3.61 |
| | $ | 3.01 |
|
| Basic net earnings per common share - discontinued operations | | — |
| | 0.62 |
| | 0.94 |
| | 0.25 |
| | 0.21 |
|
| Basic net earnings per common share | | $ | 4.12 |
| | $ | 4.32 |
| | $ | 4.49 |
| | $ | 3.86 |
| | $ | 3.22 |
|
| | | | | | | | | | | |
| DILUTED NET EARNINGS PER SHARE | | | | | | | | | | |
| Diluted net earnings from continuing operations | | $ | 11,797 |
| | $ | 10,946 |
| | $ | 10,680 |
| | $ | 11,291 |
| | $ | 9,662 |
|
| Diluted net earnings from discontinued operations | | — |
| | 1,790 |
| | 2,756 |
| | 784 |
| | 678 |
|
| Diluted net earnings | | $ | 11,797 |
| | $ | 12,736 |
| | $ | 13,436 |
| | $ | 12,075 |
| | $ | 10,340 |
|
| | | | | | | | | | | |
| Basic weighted average common shares outstanding | | 2,804.0 |
| | 2,900.8 |
| | 2,952.2 |
| | 3,080.8 |
| | 3,159.0 |
|
| Add potential effect of: | | | | | | | | | | |
| Conversion of preferred shares | | 128.5 |
| | 134.0 |
| | 139.2 |
| | 144.2 |
| | 149.6 |
|
| Exercise of stock options and other Unvested Equity awards | | 69.4 |
| | 64.5 |
| | 62.7 |
| | 91.8 |
| | 90.0 |
|
| Diluted weighted average common shares outstanding | | 3,001.9 |
| | 3,099.3 |
| | 3,154.1 |
| | 3,316.8 |
| | 3,398.6 |
|
| | | | | | | | | | | |
| Diluted net earnings per common share - continuing operations | | $ | 3.93 |
| | $ | 3.53 |
| | $ | 3.39 |
| | $ | 3.40 |
| | $ | 2.84 |
|
| Diluted net earnings per common share - discontinued operations | | — |
| | 0.58 |
| | 0.87 |
| | 0.24 |
| | 0.20 |
|
| Diluted net earnings per common share | | $ | 3.93 |
| | $ | 4.11 |
| | $ | 4.26 |
| | $ | 3.64 |
| | $ | 3.04 |
|
