BECTON, DICKINSON AND COMPANY Exhibit 11
COMPUTATION OF EARNINGS PER SHARE
(All amounts in thousands, except per share data)
Six Months Ended
March 31,
------------------
PRIMARY EARNINGS PER SHARE 1996 1995
- -------------------------- -------- -------
Net income $119,312 $98,473
Less preferred stock dividends (1,759) (1,812)
-------- -------
Net income applicable to common stock $117,553 $96,661
======== =======
Shares:
Average shares outstanding 64,194 67,938
Add dilutive stock equivalents from stock plans 3,073 1,859
-------- -------
Weighted average number of common and common
equivalent shares outstanding during the year 67,267 69,797
======== =======
Earnings per share $ 1.75 $ 1.38
======== =======
FULLY DILUTED EARNINGS PER SHARE
- --------------------------------
Net income applicable to common stock $117,553 $96,661
Add preferred stock dividends
using the "if converted" method 1,759 1,812
Less additional ESOP contribution, using
the "if converted" method (651) (716)
-------- -------
Net income for fully diluted earnings per share $118,661 $97,757
======== =======
Shares:
Average shares outstanding 64,194 67,938
Add:
Dilutive stock equivalents from stock plans 3,296 2,169
Shares issuable upon conversion
of preferred stock 1,461 1,506
-------- -------
Weighted average number of common shares used
in calculating fully diluted earnings per share 68,951 71,613
======== =======
Fully diluted earnings per share $ 1.72 $ 1.37
======== =======