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)
For the Year Ended December 31,
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1995 1994 1993
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(Loss) earnings per Common Share - Assuming No Dilution
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Net (loss) income from:
Continuing operations $(18.6) $ 73.0 $(32.5)
Alltrista operations -- -- 2.1
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Net (loss) income before cumulative effect
of changes in accounting principles, net of tax (18.6) 73.0 (30.4)
Cumulative effect of changes in accounting -- -- (34.7)
principles, net of tax
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Net (loss) income (18.6) 73.0 (65.1)
Preferred dividends, net of tax (3.1) (3.2) (3.2)
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Net (loss) earnings attributable to common shareholders $(21.7) $ 69.8 $(68.3)
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Weighted average number of common shares
outstanding (000s) 30,024 29,662 28,712
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(Loss) earnings per share of common stock:
Continuing operations $(0.72) $ 2.35 $(1.24)
Alltrista operations -- -- 0.07
Cumulative effect of changes in accounting
principles, net of tax -- -- (1.21)
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$(0.72) $ 2.35 $(2.38)
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(Loss) earnings per Share - Assuming Full Dilution
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Net (loss) income $(18.6) $ 73.0 $(65.1)
Series B ESOP Preferred dividend, net of tax -- -- (3.2)
Adjustments for deemed ESOP cash contribution
in lieu of Series B ESOP Preferred dividend (a) (2.4) (a)
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Net (loss) earnings attributable to common shareholders $(18.6) $ 70.6 $(68.3)
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Weighted average number of common shares
outstanding (000s) 30,024 29,662 28,712
Dilutive effect of stock options (a) 264 (a)
Common shares issuable upon conversion
of Series B ESOP Preferred stock (a) 2,136 (a)
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Weighted average number shares applicable
to fully diluted earnings per share 30,024 32,062 28,712
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Fully diluted (loss) earnings per share:
Continuing operations $(0.72) $ 2.20 $(1.24)
Alltrista operations -- -- 0.07
Cumulative effect of changes in accounting
principles, net of tax -- -- (1.21)
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$(0.72) $ 2.20 $(2.38)
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(a) No conversion of the Series B ESOP Convertible Preferred Stock is assumed as
the effect is antidilutive.