EX-11 4 ex11.htm COMPUTATIONS OF EARNINGS PER SHARE computations of earnings per share
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)
 
2005
  
2004
  
2003
 
 
 
Profit for the period (A):
$
2,854
  
$
2,035
  
$
1,099
                       
Determination of shares (millions):
                
Weighted average number of common shares outstanding (B)
  
678.4
    
684.5
    
690.4
Shares issuable on exercise of stock options, net of shares assumed
to be purchased out of proceeds at average market price
  
27.4
    
22.9
    
12.3
Average common shares outstanding for fully diluted computation (C)
  
705.8
    
707.4
    
702.7
                       
Profit per share of common stock:
                
Assuming no dilution (A/B)
$
4.21
  
$
2.97
  
$
1.59
Assuming full dilution (A/C)
$
4.04
  
$
2.88
  
$
1.56
                 
Shares outstanding as of December 31 (in millions)
  
670.9
    
685.9
    
687.5