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Previous: MORGAN STANLEY DEAN WITTER & CO, 10-Q, EX-10, 2000-10-16 |
Next: MORGAN STANLEY DEAN WITTER & CO, 10-Q, EX-12, 2000-10-16 |
<PAGE>
Exhibit 11
Morgan Stanley Dean Witter & Co.
Computation of Earnings Per Share
(In millions, except share data)(1)
<TABLE>
<CAPTION>
Three Months Ended Nine Months Ended
------------------------------------ -------------------------------------
August 31 August 31 August 31 August 31
2000 1999 2000 1999
---------------- ---------------- ---------------- -----------------
<S> <C> <C> <C> <C>
Basic:
Weighted-average shares outstanding 1,088,218,669 1,100,113,462 1,090,967,941 1,106,725,932
================ ================ ================ =================
Earnings:
Net Income $1,246 $970 $4,248 $3,158
Less: Preferred stock dividend
requirements (9) (11) (27) (33)
---------------- ---------------- ---------------- -----------------
Earnings applicable to common shares $1,237 $959 $4,221 $3,125
================ ================ ================ =================
Basic earnings per share $1.14 $0.87 $3.87 $2.82
================ ================ ================ =================
Diluted:
Weighted-average shares outstanding 1,088,218,669 1,100,113,462 1,090,967,941 1,106,725,932
Average common shares issuable
under employee benefit plans 49,085,357 38,008,404 47,705,314 39,275,364
Average common shares issuable upon
conversion of ESOP preferred stock(2) - 23,279,780 2,599,147 23,433,516
---------------- ---------------- ---------------- -----------------
Total weighted-average diluted shares 1,137,304,026 1,161,401,646 1,141,272,402 1,169,434,812
================ ================ ================ =================
Earnings:
Net Income $1,246 $970 $4,248 $3,158
Less: Preferred stock dividend
requirements (9) (9) (27) (27)
---------------- ---------------- ---------------- -----------------
Earnings applicable to common shares $1,237 $961 $4,221 $3,131
================ ================ ================ =================
Diluted earnings per share $1.09 $0.83 $3.70 $2.68
================ ================ ================ =================
</TABLE>
(1) All Share and per share amounts have been retroactively adjusted to
reflect a 2:1 stock split, effective on January 26, 2000.
(2) ESOP shares were converted to common shares on January 3, 2000.
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