Exhibit 11
Page 1 of 2
Ford Motor Company and Subsidiaries
COMPUTATION OF PRIMARY AND FULLY DILUTED EARNINGS PER SHARE
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IN ACCORDANCE WITH OPINION 15 OF THE ACCOUNTING PRINCIPLES BOARD
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Third Quarter 1995 Third Quarter 1994
------------------------------- -------------------------------
Income Income
Attributable Attributable
Avg. Shares to Common Avg. Shares to Common
of Common and Class B Stock of Common and Class B Stock
and Class B ------------------ and Class B -----------------
Stock Per Stock Per
Outstanding Total Share Outstanding Total Share
----------- --------- ------- ----------- ------- -------
(Mils.) (Mils.) (Mils.) (Mils.)
Preliminary Earnings Per Share Calculation 1,083 $ 302 $0.28 1,014 $1,052 $1.04
I. Primary Earnings Per Share
. Assuming exercise of options 47 42
. Assuming purchase of shares with proceeds of options (31) (25)
. Assuming issuance of shares contingently issuable 2 2
. Uncommitted ESOP shares (2) (4)
----- -----
Net Common Stock Equivalents 16 15
----- -----
Primary Earnings Per Share Calculation 1,099 $ 302 $0.27a/ 1,029 $1,052 $1.02a/
===== ====== ===== ===== ====== =====
II. Fully Diluted Earnings Per Share
--------------------------------
Primary Earnings Per Share Calculation 1,099 $ 302 $0.27 1,029 $1,052 $1.02
. Assuming conversion of convertible preferred stock 101 32b/ 150 48b/
. Reduction in shares assumed to be purchased
with option proceeds c/ 1 0
----- ------ ----- ------
Fully Diluted Earnings Per Share Calculation 1,201 $ 334 $0.27d/ 1,179 $1,100 $0.93
===== ====== ===== ===== ====== =====
- - - - - -
a/ The effect of common stock equivalents and/or other dilutive
securities was not material in this period; therefore, the amount
presented on the income statement is the Preliminary Earnings Per
Share Calculation.
b/ Reflects the elimination of preferred dividends upon conversion.
c/ Incremental effect of dividing assumed option proceeds by the
ending price, rather than the average price, of Common Stock
for each period when the ending price exceeds the average price.
d/ The effect on earnings per share of the assumed conversion of
convertible preferred stock was anti-dilutive and, accordingly,
is excluded in the Fully Diluted Earnings Per Share Calculation
for the period indicated.
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Exhibit 11
Page 2 of 2
Ford Motor Company and Subsidiaries
COMPUTATION OF PRIMARY AND FULLY DILUTED EARNINGS PER SHARE
-----------------------------------------------------------
IN ACCORDANCE WITH OPINION 15 OF THE ACCOUNTING PRINCIPLES BOARD
----------------------------------------------------------------
Nine Months 1995 Nine Months 1994
-------------------------------- --------------------------------
Income Income
Attributable Attributable
Avg. Shares to Common Avg. Shares to Common
of Common and Class B Stock of Common and Class B Stock
and Class B ----------------- and Class B -----------------
Stock Per Stock Per
Outstanding Total Share Outstanding Total Share
------------ --------- ----- ------------ ------- -------
(Mils.) (Mils.) (Mils.) (Mils.)
Preliminary Earnings Per Share Calculation 1,049 $3,283 $3.13 1,006 $3,523 $3.50
I. Primary Earnings Per Share
--------------------------
. Assuming exercise of options 33 44
. Assuming purchase of shares with proceeds of options (18) (25)
. Assuming issuance of shares contingently issuable 2 2
. Uncommitted ESOP shares (3) (5)
----- -----
Net Common Stock Equivalents 14 16
----- -----
Primary Earnings Per Share Calculation 1,063 $3,283 $3.09a/ 1,022 $3,523 $3.45a/
===== ====== ===== ===== ====== =====
II. Fully Diluted Earnings Per Share
--------------------------------
Primary Earnings Per Share Calculation 1,063 $3,283 $3.09 1,022 $3,523 $3.45
. Assuming conversion of convertible preferred stock 130 125b/ 150 145b/
. Reduction in shares assumed to be purchased
with option proceeds c/ 3 0
----- ------ ----- ------
Fully Diluted Earnings Per Share Calculation 1,196 $3,408 $2.85 1,172 $3,668 $3.13
===== ====== ===== ===== ====== =====
- - - - - -
a/ The effect of common stock equivalents and/or other dilutive
securities was not material in this period; therefore, the amount
presented on the income statement is the Preliminary Earnings
Per Share Calculation.
b/ Reflects the elimination of preferred dividends upon conversion.
c/ Incremental effect of dividing assumed option proceeds by the ending
price, rather than the average price, of Common Stock for each period
when the ending price exceeds the average price.
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