Exhibit 11.1
Ball Corporation and Subsidiaries
STATEMENT RE: COMPUTATION OF EARNINGS (LOSS) PER SHARE
(Millions of dollars except per share amounts)
Three months ended Nine months ended
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September 29, October 1, September 29, October 1,
1996 1995 1996 1995
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Earnings per Common Share - Assuming No Dilution
Net income $ 20.1 $ (57.3) $ 37.4 $ (19.1)
Preferred dividends, net of tax benefit (0.7) (0.7) (2.2) (2.3)
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Net earnings attributable to common shareholders $ 19.4 $ (58.0) $ 35.2 $ (21.4)
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Weighted average number of common shares
outstanding (000s) 30,471 30,099 30,253 30,010
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Net earnings per share of common stock $ 0.64 $ (1.93) $ 1.16 $ (0.71)
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Earnings per Share - Assuming Full Dilution
Net income $ 20.1 $ (57.3) $ 37.4 $ (19.1)
Adjustments for deemed ESOP cash contribution in
lieu of Series B ESOP Preferred dividend (0.5) (0.7) (1.6) (2.3)
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Net earnings attributable to common shareholders $ 19.6 $ (58.0) $ 35.8 $ (21.4)
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Weighted average number of common shares
outstanding (000s) 30,471 30,099 30,253 30,010
Dilutive effect of stock options 8 * 67 *
Common shares issuable upon conversion of Series B
ESOP Preferred stock 1,964 * 1,998 *
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Weighted average number shares applicable to fully
diluted earnings per share 32,443 30,099 32,318 30,010
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Fully diluted earnings per share $ 0.60 $ (1.93) $ 1.11 $ (0.71)
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* No conversion is assumed as the effect is antidilutive.