EXHIBIT 11

THE PROCTER & GAMBLE COMPANY AND SUBSIDIARIES

Computation of Earnings Per Share

Amounts in millions except per share amounts	Three Months Ended September 30
	2009		2008
BASIC NET EARNINGS PER SHARE
Net earnings from continuing operations	$	3,027	$	3,115
Preferred dividends, net of tax benefit		50		47
Net earnings from continuing operations available to common shareholders	$	2,977	$	3,068
Net earnings from discontinued operations	$	280	$	233
Net earnings	$	3,257	$	3,301
Basic weighted average common shares outstanding		2,921.1		3,012.4
Basic net earnings per common share - continuing operations	$	1.02	$	1.02
Basic net earnings per common share - discontinued operations	$	0.09	$	0.08
Basic net earnings per common share	$	1.11	$	1.10
DILUTED NET EARNINGS PER SHARE
Diluted net earnings from continuing operations	$	3,027	$	3,115
Diluted net earnings from discontinued operations	$	280	$	233
Diluted net earnings	$	3,307	$	3,348
Basic weighted average common shares outstanding		2,921.1		3,012.4
Add potential effect of:
Conversion of preferred shares		136.2		141.2
Exercise of stock options and other unvested equity awards		52.3		85.9
Diluted weighted average common shares outstanding		3,109.6		3,239.5
Diluted net earnings per common share - continuing operations	$	0.97	$	0.96
Diluted net earnings per common share - discontinued operations	$	0.09	$	0.07
Diluted net earnings per common share	$	1.06	$	1.03