EXHIBIT 11 BECTON, DICKINSON AND COMPANY COMPUTATION OF EARNINGS PER SHARE YEARS ENDED SEPTEMBER 30, 1996, 1995 AND 1994 (ALL AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA) - -------------------------------------------------------------------------------- - --------------------------------------------------------------------------------
1996 1995 1994 - --------------------------------------------------------------------------------- PRIMARY EARNINGS PER SHARE -------------------------- Net income......................................... $283,555 $251,696 $227,174 Less preferred stock dividends..................... (3,484) (3,596) (3,711) -------- -------- -------- Net income applicable to common stock.............. $280,071 $248,100 $223,463 ======== ======== ======== Shares: (A) Average shares outstanding...................... 126,709 134,144 144,474 Add dilutive stock equivalents from stock plans. 6,086 4,258 2,192 -------- -------- -------- Weighted average number of common and common equivalent shares outstanding during the year.. 132,795 138,402 146,666 ======== ======== ======== Earnings per share (A)............................. $ 2.11 $ 1.79 $ 1.52 ======== ======== ======== FULLY DILUTED EARNINGS PER SHARE -------------------------------- Net income applicable to common stock.............. $280,071 $248,100 $223,463 Add preferred stock dividends using the "if converted" method................................. 3,484 3,596 3,711 Less additional ESOP contribution, using the "if converted" method................................. (1,288) (1,420) (1,540) -------- -------- -------- Net income for fully diluted earnings per share.... $282,267 $250,276 $225,634 ======== ======== ======== Shares: (A) Average shares outstanding...................... 126,709 134,144 144,474 Add: Dilutive stock equivalents from stock plans... 6,667 5,450 3,898 Shares issuable upon conversion of preferred stock........................................ 2,871 2,968 3,056 -------- -------- -------- Weighted average number of common shares used in calculating fully diluted earnings per share... 136,247 142,562 151,428 ======== ======== ======== Fully diluted earnings per share (A)............... $ 2.07 $ 1.76 $ 1.49 ======== ======== ========
- -------- (A) All share and per share data reflect the two-for-one stock split, the shares for which were distributed on August 15, 1996.