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 Nine Months Ended
September 30, September 30,
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1997 1996 1997 1996
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PRIMARY
Earnings:
Net income............................... $188.6 $160.9 $534.0 $453.3
Deduct: Dividends on preferred shares, net of
income taxes............................. 5.2 5.3 15.7 16.1
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Net income applicable to common shares... $183.4 $155.6 $518.3 $437.2
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Shares (in millions):
Weighted average common shares outstanding.. 295.9 293.6 295.3 292.8
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Earnings per common share, primary......... $.62 $.53 $1.76 $1.49
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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 Nine Months Ended
September 30, September 30,
----------------- ----------------
1997 1996 1997 1996
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ASSUMING FULL DILUTION
Earnings:
Net income................................. $188.6 $160.9 $534.0 $453.3
Deduct:
Dividends on preferred shares.............. .1 .1 .4 .4
Replacement funding resulting from assumed
conversion of Series B
Convertible Preference Stock, net of tax... .5 1.2 1.5 3.7
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Net income applicable to common shares..... $188.0 $159.6 $532.1 $449.2
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Shares (in millions):
Weighted average number of common shares
outstanding.............................. 295.9 293.6 295.3 292.8
Assumed conversion of options reduced by
the number of shares which could have been
purchased with the proceeds from the exercise
of such options.......................... 7.5 5.2 7.9 5.4
Assumed conversion of Series B Convertible
Preference Stock........................... 23.0 23.4 23.0 23.4
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Weighted average number of common shares
outstanding, as adjusted................. 326.4 322.2 326.2 321.6
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Earnings per common share, assuming full
dilution................................. $.58 $.50 $1.63 $1.40
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