Exhibit 11
Page 1 of 2
COLGATE-PALMOLIVE COMPANY
COMPUTATION OF EARNINGS PER COMMON SHARE
----------------------------------------
Dollars in Millions Except Per Share Amounts
(Unaudited)
Three Months Ended March 31,
----------------------------
1996 1995
------------ -------------
PRIMARY
Earnings:
Net income $ 143.5 $ 156.5
Deduct: Dividends on preferred shares,
net of income taxes 5.4 5.4
------- -------
Net income applicable to common shares $ 138.1 $ 151.1
======= =======
Shares (in millions):
Weighted average shares outstanding 146.1 144.5
======= =======
Earnings per common share, primary:
Net income per share $ .95 $ 1.05
======= =======
Exhibit 11
Page 2 of 2
COLGATE-PALMOLIVE COMPANY
COMPUTATION OF EARNINGS PER COMMON SHARE
----------------------------------------
Dollars in Millions Except Per Share Amounts
(Unaudited)
Three Months Ended March 31,
----------------------------
1996 1995
------------ -------------
ASSUMING FULL DILUTION
Earnings:
Net income $ 143.5 $ 156.5
Deduct: Dividends on preferred shares .1 .1
Deduct: Replacement funding resulting
from assumed conversion of Series B
Convertible Preference Stock, net of tax 1.2 1.8
------- -------
Net income applicable to common shares $ 142.2 $ 154.6
======= =======
Shares (in millions):
Weighted average number of common shares
outstanding 146.1 144.5
Add: Assumed exercise of options reduced
by the number of shares which could have
been purchased with the proceeds from
the exercise of such options 2.5 2.2
Add: Assumed conversion of Series B
convertible Preference Stock 12.0 12.2
------- -------
Weighted average number of common shares
outstanding, as adjusted 160.6 158.9
======= =======
Earnings per common share, assuming
full dilution:
Net income per share $ .89 $ .97
======= =======