Exhibit 11: Computation of Earnings per Share
THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES
Computation of Earnings Per Share
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Amounts in millions except per share amounts | | 2009 | | 2008 | | 2007 | | 2006 | | 2005 |
BASIC NET EARNINGS PER SHARE | | | | | | | | | | | | | | | |
Net earnings from continuing operations | | $ | 10,680 | | $ | 11,291 | | $ | 9,662 | | $ | 8,187 | | $ | 6,384 |
Preferred dividends, net of tax benefit | | | 192 | | | 176 | | | 161 | | | 148 | | | 136 |
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Net earnings from continuing operations available to common shareholders | | $ | 10,488 | | $ | 11,115 | | $ | 9,501 | | $ | 8,039 | | $ | 6,248 |
Net earnings from discontinued operations | | $ | 2,756 | | $ | 784 | | $ | 678 | | $ | 497 | | $ | 539 |
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Net earnings available to common shareholders | | $ | 13,244 | | $ | 11,899 | | $ | 10,179 | | $ | 8,536 | | $ | 6,787 |
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Basic weighted average common shares outstanding | | | 2,952.2 | | | 3,080.8 | | | 3,159.0 | | | 3,054.9 | | | 2,515.6 |
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Basic net earnings per common share - continuing operations | | $ | 3.55 | | $ | 3.61 | | $ | 3.01 | | $ | 2.63 | | $ | 2.48 |
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Basic net earnings per common share - discontinued operations | | $ | 0.94 | | $ | 0.25 | | $ | 0.21 | | $ | 0.16 | | $ | 0.22 |
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Basic net earnings per common share | | $ | 4.49 | | $ | 3.86 | | $ | 3.22 | | $ | 2.79 | | $ | 2.70 |
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DILUTED NET EARNINGS PER SHARE | | | | | | | | | | | | | | | |
Diluted net earnings from continuing operations | | $ | 10,680 | | $ | 11,291 | | $ | 9,662 | | $ | 8,187 | | $ | 6,384 |
Diluted net earnings from discontinued operations | | $ | 2,756 | | $ | 784 | | $ | 678 | | $ | 497 | | $ | 539 |
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Diluted net earnings | | $ | 13,436 | | $ | 12,075 | | $ | 10,340 | | $ | 8,684 | | $ | 6,923 |
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Basic weighted average common shares outstanding | | | 2,952.2 | | | 3,080.8 | | | 3,159.0 | | | 3,054.9 | | | 2,515.6 |
Add potential effect of: | | | | | | | | | | | | | | | |
Conversion of preferred shares | | | 139.2 | | | 144.2 | | | 149.6 | | | 154.1 | | | 158.3 |
Exercise of stock options and other Unvested Equity awards | | | 62.7 | | | 91.8 | | | 90.0 | | | 76.9 | | | 63.2 |
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Diluted weighted average common shares outstanding | | | 3,154.1 | | | 3,316.8 | | | 3,398.6 | | | 3,285.9 | | | 2,737.1 |
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Diluted net earnings per common share - continuing operations | | $ | 3.39 | | $ | 3.40 | | $ | 2.84 | | $ | 2.49 | | $ | 2.33 |
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Diluted net earnings per common share - discontinued operations | | $ | 0.87 | | $ | 0.24 | | $ | 0.20 | | $ | 0.15 | | $ | 0.20 |
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Diluted net earnings per common share | | $ | 4.26 | | $ | 3.64 | | $ | 3.04 | | $ | 2.64 | | $ | 2.53 |
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