Exhibit 11.1
The Pepsi Bottling Group, Inc.
Computation of Basic and Diluted Earnings Per Share
(in millions, except per share data)
12 Weeks Ended
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March March
19, 2005 20, 2004
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Number of shares on which basic earnings
per share is based:
Average outstanding during period................ 248 260
Add - Incremental shares under stock
compensation plans............................. 6 9
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Number of shares on which diluted
earnings per share is based...................... 254 269
Net earnings applicable to common
shareholders ................................... $ 39 $ 50
Net earnings on which diluted earnings
per share is based ............................. $ 39 $ 50
Basic earnings per share........................... $0.16 $0.19
Diluted earnings per share......................... $0.15 $0.19