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EXHIBIT 11
SARA LEE CORPORATION AND SUBSIDIARIES
Computation of Net Income per Common Share
(in millions, except per share data)
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For the Thirteen Weeks Ended |
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September 30, 2000 |
October 2, 1999 |
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Basic |
Diluted |
Basic |
Diluted |
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| EARNINGS: | |||||||||||||||
| Income from continuing operations | $ | 238 | $ | 238 | $ | 241 | $ | 241 | |||||||
| Income from discontinued operations, net of income taxes | 16 | 16 | 17 | 17 | |||||||||||
| Net income | 254 | 254 | 258 | 258 | |||||||||||
| Less: Dividends on Preferred Stock, net of tax benefits | (3 | ) | — | (3 | ) | — | |||||||||
| Adjustment attributable to conversion of ESOP Convertible Preferred Stock |
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— |
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(1 |
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— |
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(1 |
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| Net Income Available for Common Stockholders | $ | 251 | $ | 253 | $ | 255 | $ | 257 | |||||||
| SHARES: |
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| Weighted Average Shares Outstanding | 841 | 841 | 881 | 881 | |||||||||||
| Common Stock Equivalents: | |||||||||||||||
| Stock Options | — | 4 | — | 5 | |||||||||||
| ESOP Convertible Preferred Stock | — | 27 | — | 28 | |||||||||||
| Restricted Stock and Other |
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— |
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5 |
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— |
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5 |
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| Adjusted Weighted Average Shares Outstanding | 841 | 877 | 881 | 919 | |||||||||||
| Income from continuing operations per common share | $ | 0.28 | $ | 0.27 | $ | 0.27 | $ | 0.26 | |||||||
| Income from discontinued operations per common share | $ | 0.02 | $ | 0.02 | $ | 0.02 | $ | 0.02 | |||||||
| Net income per common share | $ | 0.30 | $ | 0.29 | $ | 0.29 | $ | 0.28 | |||||||
29
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