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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October 1, October 2, October 1, October 2,
1995 1994 1995 1994
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Earnings per Common Share - Assuming No Dilution
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Net (loss) income $ (57.3) $ 23.3 $ (19.1) $ 51.0
Preferred dividends, net of tax (0.7) (0.8) (2.3) (2.4)
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Net (loss) earnings attributable to common
shareholders $ (58.0) $ 22.5 $ (21.4) $ 48.6
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Weighted average number of common shares
outstanding (000s) 30,099 29,742 30,010 29,618
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Net (loss) earnings per share of common stock $ (1.93) $ 0.76 $ (0.71) $ 1.64
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Earnings per Share - Assuming Full Dilution
- -------------------------------------------
Net (loss) income $ (57.3) $ 23.3 $ (19.1) $ 51.0
Series B ESOP Preferred dividend, net of tax (0.7) -- (2.3) --
Adjustments for deemed ESOP cash contribution in
lieu of Series B ESOP Preferred dividend * (0.6) * (1.8)
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Net (loss) earnings attributable to common
shareholders $ (58.0) $ 22.7 $ (21.4) $ 49.2
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Weighted average number of common shares
outstanding (000s) 30,099 29,742 30,010 29,618
Dilutive effect of stock options * 133 * 139
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 (loss) earnings per share 30,099 32,014 30,310 31,902
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Fully diluted (loss) earnings per share $ (1.93) $ 0.71 $ (0.71) $ 1.54
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* No conversion is assumed as the effect is antidilutive.