EXHIBIT (11)
THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES
Computation of Earnings Per Share
Computation of Earnings Per Share
Amounts in millions except per share amounts
| Three Months Ended | Nine Months Ended | |||||||||||||||
| March 31 | March 31 | |||||||||||||||
| 2008 | 2007 | 2008 | 2007 | |||||||||||||
| BASIC NET EARNINGS PER SHARE | ||||||||||||||||
| Net earnings | $ | 2,710 | $ | 2,512 | $ | 9,059 | $ | 8,072 | ||||||||
| Preferred dividends, net of tax benefit | 41 | 38 | 126 | 116 | ||||||||||||
| Net earnings available to common shareholders | $ | 2,669 | $ | 2,474 | $ | 8,933 | $ | 7,956 | ||||||||
| Basic weighted average common shares outstanding | 3,067.9 | 3,156.0 | 3,093.5 | 3,164.3 | ||||||||||||
| Basic net earnings per common share | $ | 0.87 | $ | 0.78 | $ | 2.89 | $ | 2.51 | ||||||||
| DILUTED NET EARNINGS PER SHARE | ||||||||||||||||
| Diluted net earnings | $ | 2,710 | $ | 2,512 | $ | 9,059 | $ | 8,072 | ||||||||
| Basic weighted average common shares outstanding | 3,067.9 | 3,156.0 | 3,093.5 | 3,164.3 | ||||||||||||
| Add potential effect of: | ||||||||||||||||
| Conversion of preferred shares | 143.5 | 149.2 | 144.8 | 150.4 | ||||||||||||
| Exercise of stock options and other Unvested Equity awards | 89.8 | 92.1 | 94.2 | 91.0 | ||||||||||||
| Diluted weighted average common shares outstanding | 3,301.2 | 3,397.3 | 3,332.5 | 3,405.7 | ||||||||||||
| Diluted net earnings per common share | $ | 0.82 | $ | 0.74 | $ | 2.72 | $ | 2.37 | ||||||||