SARA LEE CORPORATION AND SUBSIDIARIES
Computation of Net Income per Common Share
(in millions, except per share data)
EXHIBIT 11
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FOR THE THIRTEEN WEEKS ENDED
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October 2, 1999
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September 26, 1998
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Basic
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Diluted
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Basic
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Diluted
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|
| EARNINGS: |
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| Net income |
|
$ |
258 |
|
$ |
258 |
|
$ |
338 |
|
$ |
338 |
|
| Less: Dividends on Preferred Stock, net of tax benefits |
|
|
(3 |
) |
|
— |
|
|
(3 |
) |
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— |
|
| Adjustment attributable to conversion of ESOP Convertible Preferred Stock |
|
|
— |
|
|
(1 |
) |
|
— |
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|
(1 |
) |
| |
|
|
|
|
|
|
|
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| Net Income Available for Common Stockholders |
|
$ |
255 |
|
$ |
257 |
|
$ |
335 |
|
$ |
337 |
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| |
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| SHARES: |
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| Weighted Average Shares Outstanding |
|
|
881 |
|
|
881 |
|
|
912 |
|
|
912 |
|
| Common Stock Equivalents: |
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|
|
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|
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| Stock Options |
|
|
— |
|
|
5 |
|
|
— |
|
|
11 |
|
| ESOP Convertible Preferred Stock |
|
|
— |
|
|
28 |
|
|
— |
|
|
32 |
|
| Restricted Stock and Other |
|
|
— |
|
|
5 |
|
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— |
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|
4 |
|
| |
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|
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| Adjusted Weighted Average Shares Outstanding |
|
|
881 |
|
|
919 |
|
|
912 |
|
|
959 |
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| |
|
|
|
|
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| NET INCOME PER COMMON SHARE |
|
$ |
0.29 |
|
$ |
0.28 |
|
$ |
0.37 |
|
$ |
0.35 |
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| |
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21
