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EXHIBIT 11
HARRAH'S ENTERTAINMENT, INC.
COMPUTATIONS OF PER SHARE EARNINGS
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THIRD QUARTER ENDED NINE MONTHS ENDED
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SEPT. 30, SEPT. 30, SEPT. 30, SEPT. 30,
2002 2001 2002 2001
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Income before extraordinary items and
cumulative effect of change in
accounting principle................ $101,042,000 $ 61,817,000 $272,319,000 $153,891,000
Extraordinary gain (losses), net...... - 106,000 - (25,000)
Cumulative effect of change in
accounting principle, net........... - - (91,169,000) -
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Net income.................... $101,042,000 $ 61,923,000 $181,150,000 $153,866,000
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Weighted average number of common
shares outstanding.................. 110,593,533 113,241,429 111,682,006 114,610,333
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Basic earnings per share
Income before extraordinary items
and cumulative effect of change in
accounting principle $ 0.91 $ 0.55 $ 2.44 $ 1.34
Extraordinary items, net............ - - - -
Cumulative effect of change in
accounting principle, net......... - - (0.82) -
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Net income.................... $ 0.91 $ 0.55 $ 1.62 $ 1.34
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Weighted average number of common
shares outstanding.................. 110,593,533 113,241,429 111,682,006 114,610,333
Additional shares based on average
market price for period applicable
to:
Restricted stock................ 612,305 655,982 621,729 661,853
Stock options................... 1,805,884 1,182,938 1,735,597 1,517,082
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Average number of common and common
equivalent shares outstanding....... 113,011,722 115,080,349 114,039,332 116,789,268
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Diluted earnings per share
Income before extraordinary items
and cumulative effect of change in
accounting principle.............. $ 0.89 $ 0.54 $ 2.39 1.32
Extraordinary items, net............ - - - -
Cumulative effect of change in
accounting principle, net......... - - (0.80) -
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Net income.................... $ 0.89 $ 0.54 $ 1.59 $ 1.32
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