EX-11 8 cat_exx11x12312013.htm EX-11 CAT_EX_11_12.31.2013


EXHIBIT 11
 
CATERPILLAR INC.
AND ITS SUBSIDIARIES
 
COMPUTATIONS OF EARNINGS PER SHARE
 
FOR THE YEARS ENDED DECEMBER 31,
 
(Dollars in millions except per share data)
 
 
 
2013
 
2012
 
2011
Profit for the period (A) (1)
$
3,789

 
$
5,681

 
$
4,928

 
 
 
 
 
 
Determination of shares (in millions):
 

 
 

 
 

Weighted average number of common shares outstanding (B)
645.2

 
652.6

 
645.0

Shares issuable on exercise of stock awards, net of shares assumed to be purchased out of proceeds at average market price
13.4

 
17.0

 
21.1

Average common shares outstanding for fully diluted computation (C) (2)
658.6

 
669.6

 
666.1

 
 
 
 
 
 
Profit per share of common stock:
 

 
 

 
 

Assuming no dilution (A/B)
$
5.87

 
$
8.71

 
$
7.64

Assuming full dilution (A/C) (2)
$
5.75

 
$
8.48

 
$
7.40

 
 
 
 
 
 
Shares outstanding as of December 31 (in millions)
637.8

 
655.0

 
647.5

 ____________________________________
(1) 
Profit attributable to common stockholders.
(2)  
Diluted by assumed exercise of stock-based compensation awards using the treasury stock method.