EXHIBIT 11 The Pepsi Bottling Group, Inc. Computation of Basic and Diluted Earnings Per Share (in millions, except per share data) 12-weeks Ended -------------- March March 22, 2003 23, 2002 -------- -------- Number of shares on which basic earnings per share is based: Weighted-average outstanding during period............ 279 280 Add - Incremental shares under stock compensation plans.................................... 8 11 ---- ---- Number of shares in which diluted earnings per share is based........................... 287 291 Net earnings applicable to common shareholders........................................... $ 33 $ 54 Net earnings on which diluted earnings per share is based.................................... $ 33 $ 54 Basic earnings per share............................... $0.12 $0.19 Diluted earnings per share............................. $0.12 $0.19