EXHIBIT 11.1
Ball Corporation and Subsidiaries
STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE
(Millions of dollars except per share amounts)
Three months ended Six months ended
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July 3, July 4, July 3, July 4,
1994 1993 1994 1993
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EARNINGS PER COMMON SHARE - ASSUMING NO DILUTION
Net income from:
Continuing operations $ 17.2 $ 13.3 $ 27.7 $ 22.4
Alltrista operations -- -- -- 2.1
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Net income before cumulative effect of changes in
accounting principles 17.2 13.3 27.7 24.5
Cumulative effect of changes in accounting
principles, net of tax -- -- -- (34.7)
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Net income (loss) 17.2 13.3 27.7 (10.2)
Preferred dividends, net of tax (0.8) (0.8) (1.6) (1.6)
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Net earnings (loss) attributable to common
shareholders $ 16.4 $ 12.5 $ 26.1 $ (11.8)
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Weighted average number of common shares
outstanding (000s) 29,621 29,250 29,556 28,076
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Earnings (loss) per share of common stock:
Continuing operations $ 0.55 $ 0.43 $ 0.88 $ 0.74
Alltrista operations -- -- -- 0.08
Cumulative effect of changes in accounting
principles, net of tax -- -- -- (1.24)
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$ 0.55 $ 0.43 $ 0.88 $ (0.42)
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EARNINGS PER SHARE - ASSUMING FULL DILUTION
Net income (loss) $ 17.2 $ 13.3 $ 27.7 $ (10.2)
Series B ESOP Preferred dividend, net of tax -- -- -- (1.6)
Adjustments for deemed ESOP cash contribution in
lieu of Series B ESOP Preferred dividend (0.6) (0.4) (1.2) *
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Net earnings (loss) attributable to common
shareholders $ 16.6 $ 12.9 $ 26.5 $ (11.8)
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Weighted average number of common shares
outstanding (000s) 29,621 29,250 29,556 28,076
Dilutive effect of stock options 98 240 100 258
Common shares issuable upon conversion of
Series B ESOP Preferred stock 2,140 2,191 2,147 *
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Weighted average number shares applicable to
fully diluted earnings per share 31,859 31,681 31,803 28,334
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Fully diluted earnings (loss) per share:
Continuing operations $ 0.52 $ 0.41 $ 0.83 $ 0.74
Alltrista operations -- -- -- 0.07
Cumulative effect of changes in accounting
principles, net of tax -- -- -- (1.23)
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$ 0.52 $ 0.41 $ 0.83 $ (0.42)
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<FN>
* No conversion of the Series B ESOP Convertible Preferred Stock is assumed as
the effect is antidilutive.