XML 43 R16.htm IDEA: XBRL DOCUMENT v3.7.0.1
EARNINGS PER SHARE
 12 Months Ended
Jun. 30, 2017
Earnings Per Share [Abstract]  
Earnings Per Share [Text Block]
EARNINGS PER SHARE
Basic net earnings per common share are calculated by dividing Net earnings attributable to Procter & Gamble less preferred dividends (net of related tax benefits) by the weighted average number of common shares outstanding during the year. Diluted net earnings per common share are calculated on the basis of the weighted average number of common shares outstanding plus the dilutive effect of stock options and other stock-based awards (see Note 7) and the assumed conversion of preferred stock (see Note 8).
Net earnings per share were as follows:
Years ended June 30
2017
 
2016
 
2015
CONSOLIDATED AMOUNTS
Continuing Operations
Dis-continued Operations
Total
 
Continuing Operations
Dis-continued Operations
Total
 
Continuing Operations
Dis-continued Operations
Total
Net earnings/(loss)
$
10,194

$
5,217

$
15,411

 
$
10,027

$
577

$
10,604

 
$
8,287

$
(1,143
)
$
7,144

Net earnings attributable to noncontrolling interests
(85
)
—

(85
)
 
(96
)
—

(96
)
 
(98
)
(10
)
(108
)
Net earnings/(loss) attributable to P&G (Diluted)
10,109

5,217

15,326

 
9,931

577

10,508

 
8,189

(1,153
)
7,036

Preferred dividends, net of tax
(247
)
—

(247
)
 
(255
)
—

(255
)
 
(259
)
—

(259
)
Net earnings/(loss) attributable to P&G available to common shareholders (Basic)
$
9,862

$
5,217

$
15,079

 
$
9,676

$
577

$
10,253

 
$
7,930

$
(1,153
)
$
6,777

SHARES IN MILLIONS
 
 
 
 
 
 
 
 
 
 
 
Basic weighted average common shares outstanding
2,598.1

2,598.1

2,598.1

 
2,698.9

2,698.9

2,698.9

 
2,711.7

2,711.7

2,711.7

Add: Effect of dilutive securities
 
 
 
 
 
 
 
 
 
 
 
Conversion of preferred shares(1)
99.3

99.3

99.3

 
103.9

103.9

103.9

 
108.6

108.6

108.6

Impact of stock options and other unvested equity awards (2)
43.0

43.0

43.0

 
41.6

41.6

41.6

 
63.3

63.3

63.3

Diluted weighted average common shares outstanding
2,740.4

2,740.4

2,740.4

 
2,844.4

2,844.4

2,844.4

 
2,883.6

2,883.6

2,883.6

PER SHARE AMOUNTS
 
 
 
 
 
 
 
 
 
 
 
Basic net earnings/(loss) per common share (3)
$
3.79

$
2.01

$
5.80

 
$
3.59

$
0.21

$
3.80

 
$
2.92

$
(0.42
)
$
2.50

Diluted net earnings/(loss) per common share (3)
$
3.69

$
1.90

$
5.59

 
$
3.49

$
0.20

$
3.69

 
$
2.84

$
(0.40
)
$
2.44

(1) 
Despite being included currently in Diluted net earnings per common share, the actual conversion to common stock occurs when the preferred shares are sold. Shares may only be sold after being allocated to the ESOP participants pursuant to the repayment of the ESOP's obligations through 2035.
(2) 
Weighted average outstanding stock options of approximately 20 million in 2017, 55 million in 2016 and 8 million in 2015 were not included in the Diluted net earnings per share calculation because the options were out of the money or to do so would have been antidilutive (i.e., the total proceeds upon exercise would have exceeded the market value of the underlying common shares).
(3) 
Basic net earnings per common share and Diluted net earnings per common share are calculated on Net earnings/(loss) attributable to Procter & Gamble.