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 Nine months ended
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September 28, September 29, September 28, September 29,
1997 1996 1997 1996
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Earnings per Common Share - Assuming No Dilution
Net income (loss) from:
Continuing operations $ 22.7 $ 19.4 $ 50.5 $ 39.5
Discontinued operations -- 0.7 -- (2.1)
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Net income 22.7 20.1 50.5 37.4
Preferred dividends, net of tax (0.7) (0.7) (2.1) (2.2)
benefit
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Net earnings available to common
shareholders $ 22.0 $ 19.4 $ 48.4 $ 35.2
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Weighted average number of
common shares outstanding
(000s) 30,135 30,471 30,263 30,253
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Earnings (loss) per share of
common stock:
Continuing operations $ 0.73 $ 0.62 $ 1.60 $ 1.23
Discontinued operations -- 0.02 -- (0.07)
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$ 0.73 $ 0.64 $ 1.60 $ 1.16
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Earnings per Share - Assuming Full
Dilution Net income (loss) from:
Continuing operations $ 22.7 $ 19.4 $ 50.5 $ 39.5
Discontinued operations -- 0.7 -- (2.1)
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Net income 22.7 20.1 50.5 37.4
Adjustments for deemed ESOP cash
contribution in lieu of Series
B ESOP Preferred dividend (0.6) (0.5) (1.6) (1.6)
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Net earnings available to common
shareholders $ 22.1 $ 19.6 $ 48.9 $ 35.8
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Weighted average number of common
shares outstanding (000s) 30,135 30,471 30,263 30,253
Dilutive effect of stock options 307 8 295 67
Common shares issuable upon
conversion of Series B ESOP 1,911 1,964 1,920 1,988
Preferred stock
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Weighted average number shares
applicable to fully diluted
earnings per share 32,353 32,443 32,478 32,318
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Fully diluted earnings (loss)
per share:
Continuing operations $ 0.68 $ 0.58 $ 1.51 $ 1.17
Discontinued operations -- 0.02 -- (0.06)
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$ 0.68 $ 0.60 $ 1.51 $ 1.11
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