Exhibit 11.1
Ball Corporation and Subsidiaries
STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE
(Millions of dollars except per share amounts)
For the Year Ended December 31,
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1993 1992 1991
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EARNINGS PER COMMON SHARE - ASSUMING NO DILUTION
Net (loss) income from:
Continuing operations $ (32.5) $ 60.9 $ 60.6
Alltrista operations 2.1 6.2 3.6
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Net (loss) income before cumulative effect of
changes in accounting principles, net of tax (30.4) 67.1 64.2
Cumulative effect of changes in accounting
principles, net of tax (34.7) -- --
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Net (loss) income (65.1) 67.1 64.2
Preferred dividends, net of tax (3.2) (3.4) (8.3)
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Net (loss) earnings attributable to common
shareholders $ (68.3) $ 63.7 $ 55.9
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Weighted average number of common shares
outstanding (000s) 28,712 26,039 23,125
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Earnings (loss) per share of common stock:
Continuing operations $ (1.24) $ 2.21 $ 2.26
Alltrista operations 0.07 0.24 0.16
Cumulative effect of changes in accounting
principles, net of tax (1.21) -- --
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$ (2.38) $ 2.45 $ 2.42
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EARNINGS PER SHARE - ASSUMING FULL DILUTION
Net (loss) income $ (65.1) $ 67.1 $ 64.2
Series C Preferred dividend -- (0.1) (5.1)
Series B ESOP Preferred dividend, net of tax (3.2) -- --
Adjustments for deemed ESOP cash contribution in
lieu of Series B ESOP Preferred dividend (a) (1.8) (1.9)
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Net (loss) earnings attributable to common
shareholders $ (68.3) $ 65.2 $ 57.2
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Weighted average number of common shares
outstanding (000s) 28,712 26,039 23,125
Dilutive effect of stock options (a) 287 381
Common shares issuable upon conversion of
Series B ESOP Preferred stock (a) 1,897 1,902
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Weighted average number shares applicable to
fully diluted earnings per share 28,712 28,223 25,408
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Fully diluted (loss) earnings per share:
Continuing operations $ (1.24) $ 2.09 $ 2.11
Alltrista operations 0.07 0.22 0.14
Cumulative effect of changes in accounting
principles, net of tax (1.21) -- --
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$ (2.38) $ 2.31 $ 2.25
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<FN>
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(a) No exercise of dilutive common stock options or conversion of the Series B
ESOP Convertible Preferred Stock is assumed because the effect would have
been anti-dilutive.