Exhibit 11(a)
THE BLACK & DECKER CORPORATION AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
(Amounts in Millions Except Per Share Data)
For The Three Months Ended
September 29, 1996 October 1, 1995
Amount Per Share Amount Per Share
Primary:
Average shares outstanding 87.8 85.9
Dilutive stock options and stock issuable under employee
benefit plans--based on the Treasury stock method
using the average market price 2.4 2.6
---- ---
Adjusted shares outstanding 90.2 88.5
==== ====
Earnings from continuing operations $55.7 $32.3
Less preferred stock dividend 2.9 2.9
----- -----
Earnings from continuing operations
attributable to common stock $52.8 $.59 $29.4 $ .33
===== ==== ===== =====
Fully Diluted:
Average shares outstanding 87.8 85.9
Dilutive stock options and stock issuable under employee
benefit plans--based on the Treasury stock method using
the higher of the average market price or ending market
price 2.5 2.8
---- ----
Adjusted shares outstanding 90.3 88.7
Average shares assumed to be
converted through convertible
preferred stock (Note 1) 6.3 6.4
----- -----
Fully diluted average
shares outstanding 96.6 95.1
==== ====
Earnings from continuing operations $55.7 $ .58 $32.3 $ .34
===== ===== ===== =====
Notes: 1. Difference from prior year is due to rounding.
Exhibit 11(b)
THE BLACK & DECKER CORPORATION AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
(Amounts in Millions Except Per Share Data)
For The Three Months Ended
September 29, 1996 October 1, 1995
Amount Per Share Amount Per Share
Primary:
Average shares outstanding 87.8 85.9
Dilutive stock options and stock issuable under employee
benefit plans--based on the Treasury stock method using
the average market price 2.4 2.6
---- ----
Adjusted shares outstanding 90.2 88.5
==== ====
Net earnings $55.7 $43.5
Less preferred stock dividend 2.9 2.9
----- -----
Net earnings attributable to common stock $52.8 $.59 $40.6 $ .46
===== ==== ===== =====
Fully Diluted:
Average shares outstanding 87.8 85.9
Dilutive stock options and stock issuable under employee
benefit plans--based on the Treasury stock method using
the higher of the average market price or ending market
price 2.5 2.8
---- ----
Adjusted shares outstanding 90.3 88.7
Average shares assumed to be
converted through convertible
preferred stock (Note 1) 6.3 6.4
----- -----
Fully diluted average
shares outstanding 96.6 95.1
==== ====
Net earnings $55.7 $.58 $43.5 $ .46
===== ==== ===== =====
Notes: 1. Difference from prior year is due to rounding.
Exhibit 11(c)
THE BLACK & DECKER CORPORATION AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
(Amounts in Millions Except Per Share Data)
For The Nine Months Ended
September 29, 1996 October 1, 1995
Amount Per Share Amount Per Share
Primary:
Average shares outstanding 87.4 85.4
Dilutive stock options and stock issuable under employee
benefit plans--based on the Treasury stock method using
the average market price 2.5 2.3
---- ----
Adjusted shares outstanding 89.9 87.7
==== ====
Earnings from continuing operations $68.6 $79.5
Less preferred stock dividend 8.7 8.7
----- -----
Earnings from continuing operations
attributable to common stock $59.9 $.67 $70.8 $ .81
===== ==== ===== =====
Fully Diluted:
Average shares outstanding 87.4 85.4
Dilutive stock options and stock issuable under employee
benefit plans--based on the Treasury stock method using
the higher of the average market price or ending market
price 2.6 2.8
---- ----
Adjusted shares outstanding 90.0 88.2
Average shares assumed to be
converted through convertible
preferred stock 6.4 6.4 (Note 1)
----- -----
Fully diluted average
shares outstanding 96.4 94.6
==== ====
Earnings from continuing operations $68.6 $ .71 $79.5 $ .84
===== ===== ===== =====
Notes: 1. The assumed conversion of convertible preferred stock is anti-dilutive and, therefore, is not used in the
calculation of fully diluted earnings per share included in the financial statements.
Exhibit 11(d)
THE BLACK & DECKER CORPORATION AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
(Amounts in Millions Except Per Share Data)
For The Nine Months Ended
September 29, 1996 October 1, 1995
Amount Per Share Amount Per Share
Primary:
Average shares outstanding 87.4 85.4
Dilutive stock options and stock issuable under employee
benefit plans--based on the Treasury stock method using
the average market price 2.5 2.3
---- ----
Adjusted shares outstanding 89.9 87.7
==== ====
Net earnings $139.0 $104.0
Less preferred stock dividend 8.7 8.7
----- -----
Net earnings attributable to common stock $130.3 $1.45 $95.3 $1.09
====== ===== ===== =====
Fully Diluted:
Average shares outstanding 87.4 85.4
Dilutive stock options and stock issuable under employee
benefit plans--based on the Treasury stock method using
the higher of the average market price or ending market
price 2.6 2.8
---- ----
Adjusted shares outstanding 90.0 88.2
Average shares assumed to be
converted through convertible
preferred stock 6.4 6.4 (Note 1)
----- -----
Fully diluted average
shares outstanding 96.4 94.6
==== ====
Net earnings $139.0 $1.44 $104.0 $1.10
====== ===== ====== =====
Notes: 1. The assumed conversion of convertible preferred stock is anti-dilutive and, therefore, is not used in the
calculation of fully diluted earnings per share included in the financial statements.