Suntrust Banks 10-K 2003 FY Annual report

EXHIBIT 11.1

SunTrust Banks, Inc.

Statement re: Computation of Per Share Earnings

(In thousands, except per share data)

			Year Ended December 31
	2003		2002		2001		2000		1999		1998
Basic
Income before extraordinary gain	$	1,332,297	$	1,331,809	$	1,375,537	$	1,294,100	$	1,123,952	$	971,017
Extraordinary gain, net of taxes		—		—		—		—		202,648		—
Net income	$	1,332,297	$	1,331,809	$	1,375,537	$	1,294,100	$	1,326,600	$	971,017
Average basic common shares		278,295		282,495		287,702		297,834		317,079		314,908
Income before extraordinary gain	$	4.79	$	4.71	$	4.78	$	4.35	$	3.54	$	3.08
Extraordinary gain, net of taxes		—		—		—		—		0.64		—
Earnings per common share - basic	$	4.79	$	4.71	$	4.78	$	4.35	$	4.18	$	3.08
Diluted
Income before extraordinary gain	$	1,332,297	$	1,331,809	$	1,375,537	$	1,294,100	$	1,123,952	$	971,017
Extraordinary gain, net of taxes		—		—		—		—		202,648		—
Net income	$	1,332,297	$	1,331,809	$	1,375,537	$	1,294,100	$	1,326,600	$	971,017
Average common shares outstanding		278,295		282,495		287,702		297,834		317,079		314,908
Incremental shares outstanding(1)		3,139		3,557		3,882		3,122		4,095		4,803
Average diluted common shares		281,434		286,052		291,584		300,956		321,174		319,711
Income before extraordinary gain	$	4.73	$	4.66	$	4.72	$	4.30	$	3.50	$	3.04
Extraordinary gain, net of taxes		—		—		—		—		0.63		—
Earnings per common share - diluted	$	4.73	$	4.66	$	4.72	$	4.30	$	4.13	$	3.04

⁽¹⁾ Includes the incremental effect of stock options and restricted stock outstanding computed under the treasury stock method.