EX-11.1 7 j6139_ex11d1.htm EX-11.1

Exhibit 11.1

 

THE HOME DEPOT, INC. AND SUBSIDIARIES

 

COMPUTATION OF BASIC AND DILUTED
EARNINGS PER SHARE

 

(In Millions, Except Per Share Data)

 

 

 

Three Months Ended

 

Nine Months Ended

 

 

 

November 3,
2002

 

October 28,
2001

 

November 3,
2002

 

October 28,
2001

 

 

 

 

 

 

 

 

 

 

 

BASIC

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Earnings Available to Common Shareholders

 

$

940

 

$

778

 

$

2,978

 

$

2,334

 

 

 

 

 

 

 

 

 

 

 

Weighted Average Number of Common Shares Outstanding

 

2,337

 

2,337

 

2,347

 

2,332

 

 

 

 

 

 

 

 

 

 

 

Basic Earnings Per Share

 

$

0.40

 

$

0.33

 

$

1.27

 

$

1.00

 

 

 

 

 

 

 

 

 

 

 

DILUTED

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Earnings Available to Common Shareholders

 

$

940

 

$

778

 

$

2,978

 

$

2,334

 

 

 

 

 

 

 

 

 

 

 

Weighted Average Number of Common Shares Outstanding

 

2,337

 

2,337

 

2,347

 

2,332

 

 

 

 

 

 

 

 

 

 

 

Effect of Potentially Dilutive Securities: Employee Stock Plans

 

6

 

15

 

9

 

18

 

 

 

 

 

 

 

 

 

 

 

Weighted Average Number of Common Shares Outstanding Assuming Dilution

 

2,343

 

2,352

 

2,356

 

2,350

 

 

 

 

 

 

 

 

 

 

 

Diluted Earnings Per Share

 

$

0.40

 

$

0.33

 

$

1.26

 

$

0.99

 

 

Employee stock plans represent options and shares granted under the Company’s employee stock purchase, stock option and deferred compensation stock plans.  Options to purchase 72.1 million and 11.4 million shares of common stock at November 3, 2002 and October 28, 2001, respectively, were excluded from the computation of diluted earnings per share because their effect would have been anti-dilutive.