Exhibit 11.1
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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June 29, June 30, June 29, June 30,
1997 1996 1997 1996
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Earnings per Common Share - Assuming No Dilution
Net income (loss) from:
Continuing operations $ 20.8 $ 13.3 $ 27.8 $ 20.1
Discontinued operations -- (1.5) -- (2.8)
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Net income 20.8 11.8 27.8 17.3
Preferred dividends, net of tax benefit (0.7) (0.7) (1.4) (1.5)
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Net earnings available to common shareholders
$ 20.1 $ 11.1 $ 26.4 $ 15.8
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Weighted average number of common shares
outstanding (000s) 30,212 30,222 30,328 30,145
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Earnings (loss) per share of common stock:
Continuing operations $ 0.67 $ 0.42 $ 0.87 $ 0.61
Discontinued operations -- (0.05) -- (0.09)
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$ 0.67 $ 0.37 $ 0.87 $ 0.52
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Earnings per Share - Assuming Full Dilution
Net income (loss) from:
Continuing operations $ 20.8 $ 13.3 $ 27.8 $ 20.1
Discontinued operations -- (1.5) -- (2.8)
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Net income 20.8 11.8 27.8 17.3
Adjustments for deemed ESOP cash contribution in
lieu of Series B ESOP Preferred dividend
(0.5) (0.5) (1.0) (1.1)
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Net earnings available to common shareholders
$ 20.3 $ 11.3 $ 26.8 $ 16.2
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Weighted average number of common shares
outstanding (000s) 30,212 30,222 30,328 30,145
Dilutive effect of stock options 166 77 157 100
Common shares issuable upon conversion of Series B
ESOP Preferred stock 1,911 1,970 1,924 2,015
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Weighted average number shares applicable to fully
diluted earnings per share
32,289 32,269 32,409 32,260
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Fully diluted earnings (loss) per share:
Continuing operations $ 0.63 $ 0.40 $ 0.83 $ 0.59
Discontinued operations -- (0.05) -- (0.09)
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$ 0.63 $ 0.35 $ 0.83 $ 0.50
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