1
Exhibit (11)
SONOCO PRODUCTS COMPANY
COMPUTATION OF EARNINGS PER SHARE (UNAUDITED)
(Dollars in thousands, except per share)
Three Months Ended
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March 30, March 31,
1997 1996
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PRIMARY EARNINGS
Net income available to common shareholders $ 40,180 $ 41,307
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Weighted average number of common shares
outstanding 89,976,285 91,136,586
Assuming exercise of options reduced by the
number of shares which could have been
purchased (at average price) with proceeds
from exercise of such options 1,755,338 2,071,449
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Weighted average number of common shares
outstanding as adjusted 91,731,623 93,208,035
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Primary earnings per common share $ 0.44 $ 0.44
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ASSUMING FULL DILUTION
Net income available to common shareholders $ 40,180 $ 41,307
Elimination of preferred dividends 1,066 1,941
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Fully diluted net income $ 41,246 $ 43,248
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Weighted average number of common shares
outstanding 89,976,285 91,136,586
Assuming exercise of options reduced by the
number of shares which could have been
purchased (at the higher of end-of-period
price or average) with proceeds from
exercise of such options 1,798,728 2,074,957
Assuming conversion of preferred stock 4,965,765 7,155,300
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Weighted average number of common shares
outstanding as adjusted 96,740,778 100,366,843
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Earnings per common share assuming
full dilution $ 0.43 $ 0.43
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