EXHIBIT (11)
THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES
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Computation of Earnings Per Share
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Amounts in millions except per share amounts
Three Months Ended Six Months Ended
December 31 December 31
2005 2004 2005 2004
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BASIC NET EARNINGS PER SHARE
Net earnings $ 2,546 $ 1,975 $ 4,575 $ 3,917
Preferred dividends, net of tax benefit 36 33 72 66
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Net earnings available to common shareholders $ 2,510 $ 1,942 $ 4,503 $ 3,851
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Basic weighted average common shares outstanding 3,307.7 2,528.9 2,870.4 2,534.8
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Basic net earnings per common share $ 0.76 $ 0.77 $ 1.57 $ 1.52
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DILUTED NET EARNINGS PER SHARE
Net earnings $ 2,546 $ 1,975 $ 4,575 $ 3,917
Deduct preferred dividend impact on
funding of ESOP - - - -
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Diluted net earnings $ 2,546 $ 1,975 $ 4,575 $ 3,917
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Basic weighted average common shares outstanding 3,307.7 2,528.9 2,870.4 2,534.8
Add potential effect of:
Conversion of preferred shares 154.7 158.9 155.1 159.5
Exercise of stock options and other Unvested Equity awards 84.6 64.3 72.5 64.8
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Diluted weighted average common shares outstanding 3,547.0 2,752.1 3,098.0 2,759.1
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Diluted net earnings per common share $ 0.72 $ 0.72 $ 1.48 $ 1.42
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