EXHIBIT (11)
THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES
Computation of Earnings Per Share
Amounts in millions except per share amounts
| 2010 | 2009 | 2008 | 2007 | 2006 | |||||||||||
| BASIC NET EARNINGS PER SHARE |
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| Net earnings from continuing operations |
$ | 10,946 | $ | 10,680 | $ | 11,291 | $ | 9,662 | $ | 8,187 | |||||
| Preferred dividends, net of tax benefit |
219 | 192 | 176 | 161 | 148 | ||||||||||
| Net earnings from continuing operations available to common shareholders |
$ | 10,727 | $ | 10,488 | $ | 11,115 | $ | 9,501 | $ | 8,039 | |||||
| Net earnings from discontinued operations |
1,790 | 2,756 | 784 | 678 | 497 | ||||||||||
| Net earnings available to common shareholders |
$ | 12,517 | $ | 13,244 | $ | 11,899 | $ | 10,179 | $ | 8,536 | |||||
| Basic weighted average common shares outstanding |
2,900.8 | 2,952.2 | 3,080.8 | 3,159.0 | 3,054.9 | ||||||||||
| Basic net earnings per common share - continuing operations |
$ | 3.70 | $ | 3.55 | $ | 3.61 | $ | 3.01 | $ | 2.63 | |||||
| Basic net earnings per common share - discontinued operations |
0.62 | 0.94 | 0.25 | 0.21 | 0.16 | ||||||||||
| Basic net earnings per common share |
$ | 4.32 | $ | 4.49 | $ | 3.86 | $ | 3.22 | $ | 2.79 | |||||
| DILUTED NET EARNINGS PER SHARE |
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| Diluted net earnings from continuing operations |
$ | 10,946 | $ | 10,680 | $ | 11,291 | $ | 9,662 | $ | 8,187 | |||||
| Diluted net earnings from discontinued operations |
1,790 | 2,756 | 784 | 678 | 497 | ||||||||||
| Diluted net earnings |
$ | 12,736 | $ | 13,436 | $ | 12,075 | $ | 10,340 | $ | 8,684 | |||||
| Basic weighted average common shares outstanding |
2,900.8 | 2,952.2 | 3,080.8 | 3,159.0 | 3,054.9 | ||||||||||
| Add potential effect of: |
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| Conversion of preferred shares |
134.0 | 139.2 | 144.2 | 149.6 | 154.1 | ||||||||||
| Exercise of stock options and other Unvested Equity awards |
64.5 | 62.7 | 91.8 | 90.0 | 76.9 | ||||||||||
| Diluted weighted average common shares outstanding |
3,099.3 | 3,154.1 | 3,316.8 | 3,398.6 | 3,285.9 | ||||||||||
| Diluted net earnings per common share - continuing operations |
$ | 3.53 | $ | 3.39 | $ | 3.40 | $ | 2.84 | $ | 2.49 | |||||
| Diluted net earnings per common share - discontinued operations |
0.58 | 0.87 | 0.24 | 0.20 | 0.15 | ||||||||||
| Diluted net earnings per common share |
$ | 4.11 | $ | 4.26 | $ | 3.64 | $ | 3.04 | $ | 2.64 | |||||