Exhibit 11 The Pepsi Bottling Group, Inc. Computation of Basic and Diluted Earnings Per Share (in millions, except per share data) 12-weeks Ended 36-weeks Ended -------------- -------------- September September September September 6, 2003 7, 2002 6, 2003 7, 2002 -------- ------- ------- ------- Number of shares on which basic earnings per share is based: Average outstanding during period................ 268 283 273 282 Add - Incremental shares under stock compensation plans............................. 6 11 7 12 ----- ----- ----- ----- Number of shares in which diluted earnings per share is based...................... 274 294 280 294 Net earnings applicable to common shareholders ................................... $ 183 $ 178 $ 347 $ 371 Net earnings on which diluted earnings per share is based ............................. $ 183 $ 178 $ 347 $ 371 Basic earnings per share........................... $0.68 $0.63 $1.27 $1.31 Diluted earnings per share......................... $0.67 $0.61 $1.24 $1.26