EXHIBIT 11 BECTON, DICKINSON AND COMPANY COMPUTATION OF EARNINGS PER SHARE YEARS ENDED SEPTEMBER 30, 1997, 1996 AND 1995 (ALL AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA) - -------------------------------------------------------------------------------- - --------------------------------------------------------------------------------
1997 1996 1995 - --------------------------------------------------------------------------------- PRIMARY EARNINGS PER SHARE -------------------------- Net income......................................... $300,074 $283,447 $251,696 Less preferred stock dividends..................... (3,365) (3,484) (3,596) -------- -------- -------- Net income applicable to common stock.............. $296,709 $279,963 $248,100 ======== ======== ======== Shares: Average shares outstanding...................... 122,543 126,709 134,144 Add dilutive stock equivalents from stock plans. 6,429 6,086 4,258 -------- -------- -------- Weighted average number of common and common equivalent shares outstanding during the year.. 128,972 132,795 138,402 ======== ======== ======== Earnings per share................................. $ 2.30 $ 2.11 $ 1.79 ======== ======== ======== FULLY DILUTED EARNINGS PER SHARE -------------------------------- Net income applicable to common stock.............. $296,709 $279,963 $248,100 Add preferred stock dividends using the "if converted" method................................. 3,365 3,484 3,596 Less additional ESOP contribution, using the "if converted" method................................. (1,124) (1,288) (1,420) -------- -------- -------- Net income for fully diluted earnings per share.... $298,950 $282,159 $250,276 ======== ======== ======== Shares: Average shares outstanding...................... 122,543 126,709 134,144 Add: Dilutive stock equivalents from stock plans... 6,488 6,667 5,450 Shares issuable upon conversion of preferred stock........................................ 2,772 2,871 2,968 -------- -------- -------- Weighted average number of common shares used in calculating fully diluted earnings per share... 131,803 136,247 142,562 ======== ======== ======== Fully diluted earnings per share................... $ 2.27 $ 2.07 $ 1.76 ======== ======== ========