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Previous: MERRILL LYNCH & CO INC, 10-Q, 2000-08-11 |
Next: MERRILL LYNCH & CO INC, 10-Q, EX-12, 2000-08-11 |
<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 SIX MONTHS ENDED
---------------------------- --------------------------
JUNE 30, JUNE 25, JUNE 30, JUNE 25,
2000 1999 2000 1999
------- ------- ------- -------
<S> <C> <C> <C> <C>
EARNINGS
Net earnings $ 902 $ 673 $1,939 $1,282
Preferred stock dividends (10) (9) (19) (19)
------ ------ ------ ------
Net earnings applicable to common stockholders $ 892 $ 664 $1,920 $1,263
====== ====== ====== ======
WEIGHTED-AVERAGE SHARES OUTSTANDING 389.1 368.3 385.4 366.2
------ ------ ------ ------
EFFECT OF DILUTIVE INSTRUMENTS
Employee stock options 32.9 31.0 31.9 30.4
FCCAAP shares 14.7 16.7 14.4 16.6
Restricted units 7.0 5.3 6.3 5.2
ESPP shares - - - .1
------ ------ ------ ------
DILUTIVE POTENTIAL COMMON SHARES 54.6 53.0 52.6 52.3
------ ------ ------ ------
TOTAL WEIGHTED-AVERAGE DILUTED SHARES 443.7 421.3 438.0 418.5
====== ====== ====== ======
BASIC EARNINGS PER SHARE $ 2.29 $ 1.80 $ 4.98 $ 3.45
====== ====== ====== ======
DILUTED EARNINGS PER SHARE $ 2.01 $ 1.57 $ 4.38 $ 3.02
====== ====== ====== ======
Basic and diluted earnings per share are based on actual numbers before
rounding.
</TABLE>
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