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Previous: BESTFOODS, 10-Q, EX-10, 2000-08-03 |
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<PAGE> 1
EXHIBIT 11
BESTFOODS AND SUBSIDIARIES
SCHEDULE OF COMPUTATION OF EARNINGS PER SHARE
(In millions, except per share amounts)
<TABLE>
<CAPTION>
Three Months Ended Six Months Ended
June 30, June 30,
-------- --------
BASIC 2000 1999 2000 1999
---- ---- ---- ----
<S> <C> <C> <C> <C>
Net income $ 163 $ 176 $ 323 $ 320
Preferred stock dividends, net of taxes (2) (2) (5) (5)
------- ------- ------- -------
Net income available to common stockholders $ 161 $ 174 $ 318 $ 315
======= ======= ======= =======
Weighted average shares outstanding 274.5 279.0 275.4 279.9
======= ======= ======= =======
BASIC EARNINGS PER SHARE:
Net income $ 0.59 $ 0.62 $ 1.16 $ 1.13
======= ======= ======= =======
DILUTED
Net income $ 163 $ 176 $ 323 $ 320
Adjustments to net income:
Assumed additional cost if ESOP shares
are fully converted net of tax benefits -- -- (1) (1)
------- ------- ------- -------
Diluted net income $ 163 $ 176 $ 322 $ 319
======= ======= ======= =======
Weighted average shares outstanding 274.5 279.0 275.4 279.9
Add incremental shares representing:
Exercise of stock options 3.0 2.0 1.9 1.9
Performance plan shares .2 .1 .2 .1
Conversion of ESOP shares 7.4 6.9 7.4 7.0
------- ------- ------- -------
Weighted average number of shares as adjusted 285.1 288.0 284.9 288.9
======= ======= ======= =======
DILUTED EARNINGS PER SHARE:
Net income $ 0.57 $ 0.61 $ 1.13 $ 1.10
======= ======= ======= =======
</TABLE>
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