EXHIBIT (11)
THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES
Computation of Earnings Per Share
Amounts in millions except per share amounts
| Years Ended June 30 | |||||||||||||||
| 2009 | 2008 | 2007 | 2006 | 2005 | |||||||||||
| BASIC NET EARNINGS PER SHARE |
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| Net earnings from continuing operations |
$ | 11,293 | $ | 11,798 | $ | 10,063 | $ | 8,478 | $ | 6,648 | |||||
| Preferred dividends, net of tax benefit |
192 | 176 | 161 | 148 | 136 | ||||||||||
| Net earnings from continuing operations available to common shareholders |
11,101 | 11,622 | 9,902 | 8,330 | 6,512 | ||||||||||
| Net earnings from discontinued operations |
2,143 | 277 | 277 | 206 | 275 | ||||||||||
| Net earnings |
$ | 13,244 | $ | 11,899 | $ | 10,179 | $ | 8,536 | $ | 6,787 | |||||
| Basic weighted average common shares outstanding |
2,952.2 | 3,080.8 | 3,159.0 | 3,054.9 | 2,515.6 | ||||||||||
| Basic net earnings per common share - continuing operations |
$ | 3.76 | $ | 3.77 | $ | 3.13 | $ | 2.72 | $ | 2.59 | |||||
| Basic net earnings per common share - discontinued operations |
0.73 | 0.09 | 0.09 | 0.07 | 0.11 | ||||||||||
| Basic net earnings per common share |
$ | 4.49 | $ | 3.86 | $ | 3.22 | $ | 2.79 | $ | 2.70 | |||||
| DILUTED NET EARNINGS PER SHARE |
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| Diluted net earnings from continuing operations |
$ | 11,293 | $ | 11,798 | $ | 10,063 | $ | 8,478 | $ | 6,648 | |||||
| Diluted net earnings from discontinued operations |
2,143 | 277 | 277 | 206 | 275 | ||||||||||
| Diluted net earnings |
$ | 13,436 | $ | 12,075 | $ | 10,340 | $ | 8,684 | $ | 6,923 | |||||
| Basic weighted average common shares outstanding |
2,952.2 | 3,080.8 | 3,159.0 | 3,054.9 | 2,515.6 | ||||||||||
| Add potential effect of: |
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| Conversion of preferred shares |
139.2 | 144.2 | 149.6 | 154.1 | 158.3 | ||||||||||
| Exercise of stock options and other Unvested Equity awards |
62.7 | 91.8 | 90.0 | 76.9 | 63.2 | ||||||||||
| Diluted weighted average common shares outstanding |
3,154.1 | 3,316.8 | 3,398.6 | 3,285.9 | 2,737.1 | ||||||||||
| Diluted net earnings per common share - continuing operations |
$ | 3.58 | $ | 3.56 | $ | 2.96 | $ | 2.58 | $ | 2.43 | |||||
| Diluted net earnings per common share - discontinued operations |
0.68 | 0.08 | 0.08 | 0.06 | 0.10 | ||||||||||
| Diluted net earnings per common share |
$ | 4.26 | $ | 3.64 | $ | 3.04 | $ | 2.64 | $ | 2.53 | |||||