EXHIBIT 11
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NEWELL RUBBERMAID INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE OF COMMON STOCK
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YEAR ENDED DECEMBER 31,
2001 2000 1999
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(IN THOUSANDS, EXCEPT PER SHARE DATA)
<s> <c> <c> <c>
BASIC EARNINGS PER SHARE:
Net income $264,635 $421,575 $95,437
Weighted average shares outstanding 266,657 268,437 281,806
Basic earnings per share $0.99 $1.57 $0.34
DILUTED EARNINGS PER SHARE:
Net income $264,635 $421,575 $95,437
Minority interest in income of subsidiary
trust, net of tax (1) - - -
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Net income, assuming conversion of all applicable
securities $264,635 $421,575 $95,437
Weighted average shares outstanding 266,657 268,437 281,806
Incremental common shares applicable to common
stock options based on the average market price
during the period 391 63 172
Average common shares issuable assuming conversion
of the Company-Obligated Mandatorily Redeemable
Convertible Preferred Securities of a Subsidiary
Trust (1) - - -
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Weighted average shares outstanding assuming full
dilution 267,048 268,500 281,978
Diluted earnings per share, assuming
conversion of all applicable securities $0.99 $1.57 $0.34
(1) The convertible preferred securities are anti-dilutive in 2001,
2000 and 1999 and, therefore, have been excluded from diluted
earnings per share. Had the convertible preferred shares been
included in the diluted earnings per share calculation, net
income would be increased by $16.8 million, $16.4 million and
$16.3 million in 2001, 2000 and 1999, respectively and weighted
average shares outstanding would have increased by 9.9 million
shares in all years.