EX-11 3 genmills044710_ex11.htm Exhibit 11 to General Mills, Inc. Form 10-Q dated August 29, 2004

Exhibit 11

GENERAL MILLS, INC.
COMPUTATION OF EARNINGS PER SHARE
(In Millions, Except per Share Data)

Thirteen Weeks Ended
Aug. 29,
2004
Aug. 24,
2003
Net Earnings     $ 183   $ 227  

Average Number of Common Shares –		  
     Basic EPS (a)    379    372  

Incremental Share Effect from:		  
     —Stock options (b)    7    10  

     —Restricted stock, stock rights and puts		    1    —  

Average Number of Common Shares –		  
     Diluted EPS    387    382  

Earnings per Share – Basic		   $ .48   $ .61  

Earnings per Share – Diluted		   $ .47   $ .59  

Notes to Exhibit 11:

(a)

Computed as the weighted average of net shares outstanding on stock-exchange trading days.


(b)

Incremental shares from stock options are computed by the “treasury stock” method. This method first determines the number of shares issuable under stock options that had an option price below the average market price for the period, and then deducts the number of shares that could have been repurchased with the proceeds of options exercised.












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