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EXHIBIT 11
THE GILLETTE COMPANY AND SUBSIDIARY COMPANIES
STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
YEARS ENDED DECEMBER 31, 1993, 1992 AND 1991
(MILLIONS OF DOLLARS, EXCEPT PER SHARE AMOUNTS, SHARES IN MILLIONS)
1993 1992 1991
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NET INCOME PER COMMON SHARE -- ASSUMING NO DILUTION
Net income as reported..................................... $288.3 $513.4 $427.4
Less: Preferred Stock Dividends, net of tax benefit....... (4.7) (4.8) (18.0)
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Net income available to Common Shareholders................ $283.6 $508.6 $409.4
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Average common shares outstanding.......................... 220.4 219.5 211.3
Reported net income per common share....................... $ 1.29 $ 2.32 $ 1.94
NET INCOME PER COMMON SHARE -- ASSUMING FULL DILUTION
Net income available to Common Shareholders (as above)..... $283.6 $508.6 $409.4
Add: Series C ESOP Preferred Stock dividend, net of tax
benefit............................................... 4.7 4.8 4.9
Deduct: Additional ESOP costs, net of tax benefit.......... (2.7) (2.5) (2.9)
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Adjusted net income available to common shareholders....... $285.6 $510.9 $411.4
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Average common shares outstanding.......................... 220.4 219.5 211.3
Add: Conversion of Series C ESOP Preferred Stock........... 3.3 3.3 3.3
Net additional common shares upon exercise of stock
options............................................... 1.8 2.0 1.8
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Adjusted average common shares outstanding................. 225.5 224.8 216.4
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Net income per common share -- assuming full dilution...... $ 1.27 $ 2.27 $ 1.90
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