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 Nine Months Ended
March 31 March 31
2006 2005 2006 2005
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BASIC NET EARNINGS PER SHARE
Net earnings $ 2,211 $ 1,614 $ 6,786 $ 5,531
Preferred dividends, net of tax benefit 35 32 107 98
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Net earnings available to common shareholders $ 2,176 $ 1,582 $ 6,679 $ 5,433
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Basic weighted average common shares outstanding 3,269.6 2,511.0 3,003.4 2,526.9
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Basic net earnings per common share $ 0.67 $ 0.63 $ 2.22 $ 2.15
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DILUTED NET EARNINGS PER SHARE
Net earnings $ 2,211 $ 1,614 $ 6,786 $ 5,531
Deduct preferred dividend impact on
funding of ESOP -- -- -- --
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Diluted net earnings $ 2,211 $ 1,614 $ 6,786 $ 5,531
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Basic weighted average common shares outstanding 3,269.6 2,511.0 3,003.4 2,526.9
Add potential effect of:
Conversion of preferred shares 153.7 157.7 154.6 158.9
Exercise of stock options and other Unvested Equity awards 87.2 61.6 77.4 63.6
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Diluted weighted average common shares outstanding 3,510.5 2,730.3 3,235.4 2,749.4
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Diluted net earnings per common share $ 0.63 $ 0.59 $ 2.10 $ 2.01
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