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,
------------------------
1998 1997
------- ------
BASIC
Earnings:
Net income $196.0 $169.6
Deduct: Dividends on preferred shares 5.3 5.4
------- -------
Net income applicable to common shares $190.7 $164.2
------- -------
------- -------
Shares (in millions):
Weighted average shares outstanding 295.6 294.6
------- -------
------- -------
Earnings per common share, basic $ .65 $ .56
------- -------
------- -------
13
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,
----------------------------
1998 1997
------- -------
DILUTED
Earnings:
Net income $196.0 $169.6
Deduct: Dividends on preferred shares .1 .1
Deduct: Replacement funding .5 .6
------- -------
Net income applicable to common shares $195.4 $168.9
------- -------
------- -------
Shares (in millions):
Weighted average number of common shares
outstanding 295.6 294.6
Add: Assumed exercise of options reduced by the
number of shares purchased with the proceeds 7.3 6.1
Add: Assumed conversion of Series B convertible
Preference Stock 22.8 23.3
------- -------
Adjusted weighted average shares outstanding 325.7 324.0
------- -------
------- -------
Earnings per common share, diluted $ .60 $ .52
------- -------
------- -------
14