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Previous: MERRILL LYNCH & CO INC, 10-Q, EX-10, 2000-11-13 |
Next: MERRILL LYNCH & CO INC, 10-Q, EX-12, 2000-11-13 |
<TABLE>
<CAPTION>
EXHIBIT 11
MERRILL LYNCH & CO., INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER COMMON SHARE
(in millions, except per share amounts)
FOR THE THREE MONTHS ENDED FOR THE NINE MONTHS ENDED
---------------------------- --------------------------
SEPT. 29, SEPT.24, SEPT. 29, SEPT. 24,
2000 1999 2000 1999
-------- -------- -------- --------
<S> <C> <C> <C> <C>
EARNINGS
Net earnings $ 885 $ 579 $ 2,907 $ 1,900
Preferred stock dividends (10) (8) (29) (28)
------- ------- ------- -------
Net earnings applicable to common stockholders $ 875 $ 571 $ 2,878 $ 1,872
======= ======= ======= =======
WEIGHTED-AVERAGE SHARES OUTSTANDING 805.9 757.9 793.7 752.4
------- ------- ------- -------
EFFECT OF DILUTIVE INSTRUMENTS
Employee stock options 75.2 54.2 67.7 58.7
FCCAAP shares 30.6 32.4 29.4 32.9
Restricted units 17.3 10.8 14.1 10.6
ESPP shares - - 0.1 0.1
------- ------- ------- -------
DILUTIVE POTENTIAL COMMON SHARES 123.1 97.4 111.3 102.3
------- ------- ------- -------
TOTAL WEIGHTED-AVERAGE DILUTED SHARES 929.0 855.3 905.0 854.7
======= ======= ======= =======
BASIC EARNINGS PER SHARE $ 1.09 $ 0.75 $ 3.63 $ 2.49
======= ======= ======= =======
DILUTED EARNINGS PER SHARE $ 0.94 $ 0.67 $ 3.18 $ 2.19
======= ======= ======= =======
Note: Prior period amounts have been restated to reflect the merger with Herzog,
Heine, Geduld, Inc. as required under pooling-of-interests accounting and
the 2-for-1 common stock split paid on August 31, 2000.
Basic and diluted earnings per share are based on actual numbers
before rounding.
</TABLE>
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