EXHIBIT 11.1
Ball Corporation and Subsidiaries
STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE
(Millions of dollars except per share amounts)
Three months ended
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April 3, April 4,
1994 1993
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EARNINGS PER COMMON SHARE - ASSUMING NO DILUTION
Net income from:
Continuing operations $ 10.5 $ 9.1
Alltrista operations -- 2.1
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Net income before cumulative effect of changes in accounting
principles 10.5 11.2
Cumulative effect of changes in accounting principles, net of tax -- (34.7)
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Net income (loss) 10.5 (23.5)
Preferred dividends, net of tax (0.8) (0.8)
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Net earnings (loss) attributable to common shareholders $ 9.7 $ (24.3)
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Weighted average number of common shares outstanding (000s) 29,493 26,939
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Earnings (loss) per share of common stock:
Continuing operations $ 0.33 $ 0.31
Alltrista operations -- 0.08
Cumulative effect of changes in accounting principles, net of
tax -- (1.29)
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$ 0.33 $ (0.90)
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EARNINGS PER SHARE - ASSUMING FULL DILUTION
Net income (loss) $ 10.5 $ (23.5)
Series B ESOP Preferred dividend, net of tax -- (0.8)
Adjustments for deemed ESOP cash contribution in lieu of
Series B ESOP Preferred dividend (0.6) *
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Net earnings (loss) attributable to common shareholders $ 9.9 $ (24.3)
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Weighted average number of common shares outstanding (000s) 29,493 26,939
Dilutive effect of stock options 83 243
Common shares issuable upon conversion of Series B ESOP
Preferred stock 2,154 *
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Weighted average number shares applicable to fully diluted
earnings per share 31,730 27,182
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Fully diluted earnings (loss) per share:
Continuing operations $ 0.31 $ 0.30
Alltrista operations -- 0.08
Cumulative effect of changes in accounting principles, net of
tax -- (1.28)
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$ 0.31 $ (0.90)
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<FN>
* No conversion of the Series B ESOP Convertible Preferred Stock is assumed as
the effect is antidilutive.