Exhibit 11
COMPUTATION OF EARNINGS PER COMMON SHARE
FOR THE YEARS ENDED DECEMBER 31
(In millions, except share and per share amounts)
1994 1993 1992
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1. Income applicable to common
stock before extraordinary loss $441.0 $2.7 $20.3
and accounting changes*
2. Net income (loss) aplicable
to common stock* $373.1 $2.7 ($1,141.3)
3. Average number of common
shares outstanding at the
beginning of the year and the end
of each month during the year 177,881,428 175,346,282 170,948,178
4. Primary earnings per common
share before extraordinary loss
and accounting changes (1 divided
by 3) $ 2.48 $.02 $.12
5. Primary earnings (loss) per
common share (shares for accounting
changes and extraordinary
items = 177,247,646 in 1994
and 170,164,638 in 1992) $ 2.10 $.02 ($6.70)
6. Interest on 6-1/4%
convertible subordinated
debentures and amortization of
related debt discount and
expenses, net of taxes - - $6.3
7. Fully diluted earnings
before extraordinary loss and
accounting changes (1 + 6) $441.0 $2.7 $26.6
8. Fully diluted earnings
(loss) (2 + 6) $373.1 $2.7 ($1,135.0)
9. Shares issuable upon full
conversion of convertible
subordinated debentures - - 4,806,452
10. Shares issuable under stock
incentive plans (treasury stock
method) 22,930 17,350 82,882
11. Shares issuable upon
exercise of dilutive outstanding
stock options (treasury stock
method) 1,232,914 405,062 726,532
12. Fully diluted shares (3 + 9
+ 10 + 11) 179,137,272 175,768,694 176,564,044 4
13. Fully diluted earnings per
common share before extraordinary
loss and accounting changes (7
divided by 12) $2.46 $.02 $.15
14. Fully diluted earnings
(loss) per common share (shares
for extraordinary items and
accounting change calculations =
177,908,286 in 1994 and
176,184,486 in 1992) $2.08 $.02 ($6.44)
<FN>
* After preferred dividend requirement
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