Exhibit 11.1
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Ball Corporation and Subsidiaries
STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE
(Millions of dollars except per share amounts)
Three months ended Six months ended
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July 2, July 3, July 2, July 3,
1995 1994 1995 1994
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Earnings per Common Share - Assuming No Dilution
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Net income 1 $ 21.9 $ 17.2 $ 38.2 $ 27.7
Preferred dividends, net of tax (0.8) (0.8) (1.6) (1.6)
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Net earnings attributable to common shareholders $ 21.1 $ 16.4 $ 36.6 $ 26.1
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Weighted average number of common shares
outstanding (000s) 29,970 29,621 29,966 29,556
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Net earnings per share of common stock 1 $ 0.70 $ 0.55 $ 1.22 $ 0.88
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Earnings per Share - Assuming Full Dilution
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Net income 1 $ 21.9 $ 17.2 $ 38.2 $ 27.7
Adjustments for deemed ESOP cash contribution in
lieu of Series B ESOP Preferred dividend (0.6) (0.6) (1.2) (1.2)
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Net earnings attributable to common shareholders $ 21.3 $ 16.6 $ 37.0 $ 26.5
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Weighted average number of common shares
outstanding (000s) 29,970 29,621 29,966 29,556
Dilutive effect of stock options 286 98 301 100
Common shares issuable upon conversion of Series B
ESOP Preferred stock 2,089 2,140 2,098 2,147
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Weighted average number shares applicable to fully
diluted earnings per share 32,345 31,859 32,365 31,803
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Fully diluted earnings per share $ 0.66 $ 0.52 $ 1.14 $ 0.83
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1 Includes an after-tax charge of $3.3 million recorded in each of the first
and second quarters of 1995 (11 cents per share) or $6.6 million
year-to-date (22 cents per share) to reflect the adoption of the last-in,
first-out method of accounting for certain inventories retroactively to
January 1, 1995.