Exhibit 11.1
THE HOME DEPOT, INC. AND SUBSIDIARIES
COMPUTATION OF BASIC AND DILUTED
EARNINGS PER SHARE
Three Months Ended
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April 30, May 2,
2000 1999
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(In Millions, Except Per Share Data)
BASIC
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Net Earnings Available to Common
Shareholders $ 629 $ 489
Weighted Average Number of
Common Shares Outstanding 2,308 2,217
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Basic Earnings Per Share $ 0.27 $ 0.22
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DILUTED
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Net Earnings Available to Common
Shareholders $ 629 $ 489
Tax-Effected Interest Expense Attributable
to 3-1/4% Convertible Subordinated Notes -- 5
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Net Earnings Available to Common
Shareholders Assuming Dilution $ 629 $ 494
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Weighted Average Number of
Common Shares Outstanding 2,308 2,217
Effect of Potentially Dilutive Securities:
3-1/4% Convertible Subordinated Notes -- 72
Employee Stock Plans 46 47
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Weighted Average Number of Common Shares
Outstanding Assuming Dilution 2,354 2,336
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Diluted Earnings Per Share $ 0.27 $ 0.21
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Employee stock plans represent shares granted under the Company's employee stock
purchase plan and stock option plans, as well as shares issued for deferred
compensation stock plans. Shares issuable upon conversion of the Company's
3-1/4% Notes were included in weighted average shares assuming dilution for
purposes of calculating diluted earnings per share prior to their conversion in
October 1999. To calculate diluted earnings per share for fiscal 1999, net
earnings are adjusted for tax-effected net interest and issue costs on the
3-1/4% Notes (prior to conversion to equity in October 1999) and divided by
weighted average shares assuming dilution.