EX-11 8 ex_11.htm EXHIBIT 11

EXHIBIT 11

CATERPILLAR INC.
AND ITS SUBSIDIARIES

COMPUTATIONS OF EARNINGS PER SHARE
FOR THE YEARS ENDED DECEMBER 31,

     

2002

  

2001

  

2000
     
 
 

I.

  

Net profit for year (millions of dollars) (A):

$

798

  

$

805

  

$

1,053
   
 
 
       

II.

  

Determination of shares (millions):

                
   

Weighted average number of common shares outstanding (B)

 

344.0

    

343.3

    

346.8
   

Shares issuable on exercise of stock options, net of shares assumed

                
     

to be purchased out of proceeds at average market price

 

2.9

    

3.8

    

2.1
     
 
 
   

Average common shares outstanding for fully diluted computation (C)

 

346.9

    

347.1

    

348.9
   
 
 
                           

III.

  

Profit per share of common stock:

                
   

Assuming no dilution (A/B)

$

2.32

  

$

2.35

  

$

3.04
   

Assuming full dilution (A/C)

$

2.30

  

$

2.32

  

$

3.02