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Exhibit 11.1
THE HOME DEPOT, INC. AND SUBSIDIARIES
COMPUTATION OF BASIC AND DILUTED EARNINGS PER SHARE
(In Millions, Except Per Share Data)
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Three Months Ended |
Nine Months Ended |
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|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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October 29, 2000 |
October 31, 1999 |
October 29, 2000 |
October 31, 1999 |
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| BASIC | ||||||||||||||
| Net Earnings Available to Common Shareholders |
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$ |
650 |
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$ |
573 |
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$ |
2,116 |
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$ |
1,742 |
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| Weighted Average Number of Common Shares Outstanding |
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2,317 |
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2,235 |
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2,313 |
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2,225 |
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| Basic Earnings Per Share | $ | 0.28 | $ | 0.26 | $ | 0.91 | $ | 0.78 | ||||||
| DILUTED | ||||||||||||||
| Net Earnings Available to Common Shareholders |
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$ |
650 |
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$ |
573 |
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$ |
2,116 |
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$ |
1,742 |
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| Tax-Effected Interest Expense Attributable to 31/4% Convertible Subordinated Notes |
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— |
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4 |
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— |
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15 |
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| Net Earnings Available to Common Shareholders Assuming Dilution | $ | 650 | $ | 577 | $ | 2,116 | $ | 1,757 | ||||||
| Weighted Average Number of Common Shares Outstanding | 2,317 | 2,235 | 2,313 | 2,225 | ||||||||||
| Effect of Potentially Dilutive Securities: |
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| 31/4% Convertible Subordinated Notes | — | 62 | — | 68 | ||||||||||
| Employee Stock Plans |
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35 |
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45 |
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39 |
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46 |
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| Weighted Average Number of Common Shares Outstanding Assuming Dilution | 2,352 | 2,342 | 2,352 | 2,339 | ||||||||||
| Diluted Earnings Per Share | $ | 0.28 | $ | 0.25 | $ | 0.90 | $ | 0.75 | ||||||
Employee stock plans represent shares granted under the Company's employee stock purchase plans and stock option plans, as well as shares issued for deferred compensation stock plans. Shares issuable upon conversion of the Company's 31/4% Notes were included in weighted average shares assuming dilution for purposes of calculating diluted earnings per share prior to their conversion in October 1999. To calculate diluted earnings per share for fiscal 1999, net earnings are adjusted for tax-effected net interest and issue costs on the 31/4% Notes (prior to conversion to equity in October 1999) and divided by weighted average shares assuming dilution.
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