EXHIBIT 11 Registrant's Basic and Diluted Earnings Per Share (in millions except per share amounts) FOR THE YEARS ENDED --------------------------- Oct. 31, Oct. 31, Oct. 31, 1998 1997 1996 ------ ------ ------ Basic earnings per share Net earnings $2,945 $3,119 $2,586 Number of shares on which basic earnings per earnings per share is based: Weighted average common shares outstanding during the period 1,034 1,026 1,019 ------ ------ ------ Basic earnings per share $ 2.85 $ 3.04 $ 2.54 ------ ------ ------ ------ ------ ------ Diluted earnings per share Net earnings $2,945 $3,119 $2,586 Adjustment for interest expense, net of tax 26 -- -- ------ ------ ------ Net earnings, adjusted $2,971 $3,119 $2,586 Number of shares on which diluted earnings per share is based: Weighted average common shares outstanding during the period 1,034 1,026 1,019 Weighted average dilutive potential common shares: Stock options 28 31 33 Convertible zero-coupon notes due 2017 10 -- -- ------ ------ ------ Number of shares and equivalents on which diluted earnings per share is based 1,072 1,057 1,052 Diluted earnings per share $ 2.77 $ 2.95 $ 2.46 ------ ------ ------ ------ ------ ------