Exhibit 11.1
Ball Corporation and Subsidiaries
STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE
(Millions of dollars except per share amounts)
Three months ended Nine months ended
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Oct. 2, Oct. 3, Oct. 2, Oct. 3,
1994 1993 1994 1993
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Earnings per Common Share -
Assuming No Dilution
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Net income from:
Continuing operations $ 23.3 $ 3.8 $ 51.0 $ 26.2
Alltrista operations -- -- -- 2.1
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Net income before cumulative effect of
changes in accounting principles 23.3 3.8 51.0 28.3
Cumulative effect of changes in
accounting principles, net of tax -- -- -- (34.7)
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Net income (loss) 23.3 3.8 51.0 (6.4)
Preferred dividends, net of tax (0.8) (0.8) (2.4) (2.4)
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Net earnings (loss) attributable to
common shareholders $ 22.5 $ 3.0 $ 48.6 $ (8.8)
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Weighted average number of common
shares outstanding (000s) 29,742 29,341 29,618 28,493
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Earnings (loss) per share of common
stock:
Continuing operations $ 0.76 $ 0.10 $ 1.64 $ 0.84
Alltrista operations -- -- -- 0.07
Cumulative effect of changes in
accounting principles, net of tax -- -- -- (1.22)
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$ 0.76 $ 0.10 $ 1.64 $ (0.31)
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Earnings per Share - Assuming Full Dilution
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Net income (loss) $ 23.3 $ 3.8 $ 51.0 $ (6.4)
Series B ESOP Preferred dividend, net
of tax -- (0.8) -- (2.4)
Adjustments for deemed ESOP cash
contribution in lieu of Series B
ESOP Preferred dividend (0.6) * (1.8) *
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Net earnings (loss) attributable to
common shareholders $ 22.7 $ 3.0 $ 49.2 $ (8.8)
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Weighted average number of common
shares outstanding (000s) 29,742 29,341 29,618 28,493
Dilutive effect of stock options 133 205 139 283
Common shares issuable upon conversion
of Series B ESOP Preferred stock 2,139 * 2,145 *
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Weighted average number shares
applicable to fully diluted earnings
per share 32,014 29,546 31,902 28,776
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Fully diluted earnings (loss) per share:
Continuing operations $ 0.71 $ 0.10 $ 1.54 $ 0.83
Alltrista operations -- -- -- 0.07
Cumulative effect of changes in
accounting principles, net of tax -- -- -- (1.21)
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$ 0.71 $ 0.10 $ 1.54 $ (0.31)
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* No conversion of the Series B ESOP Convertible Preferred Stock is assumed as
the effect is antidilutive.