EXHIBIT 11.1
EXHIBIT 11.1
AVON PRODUCTS, INC.
COMPUTATION OF PRIMARY INCOME (LOSS) PER SHARE
(In millions, except per share data)
Years ended December 31
-----------------------
1996 1995 1994
---- ---- ----
Weighted average shares of common stock:
Weighted average shares outstanding,
during the year.............................. 133.70 136.48 141.18
Common stock equivalents........................ * * *
------ ------ ------
Weighted average shares for primary
income per share computation................. 133.70 136.48 141.18
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Income applicable to common stock:
Income from continuing operations............... $317.9 $286.1 $264.8
Discontinued operations, net.................... -- (29.6) (23.8)
Cumulative effect of accounting
changes, net of taxes........................ -- -- (45.2)
------ ------ ------
Net income...................................... $317.9 $256.5 $195.8
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Primary income(loss) per share:
Continuing operations........................ $ 2.38 $ 2.10 $ 1.88
Discontinued operations...................... -- (.22) (.17)
Cumulative effect of accounting changes...... -- -- (.32)
------ ------ ------
Net income...................................... $ 2.38 $ 1.88 $ 1.39
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*Common stock equivalents are not reported because they result in less than
three percent dilution.
EXHIBIT 11.2
EXHIBIT 11.2
AVON PRODUCTS, INC.
COMPUTATION OF FULLY DILUTED INCOME (LOSS) PER SHARE
(In millions, except per share data)
Years ended December 31
-----------------------
1996 1995 1994
---- ---- ----
Weighted average shares of common stock:
Weighted averge shares outstanding
during the year............................ 133.70 136.48 141.18
Common stock equivalents...................... 1.28 .59 .39
------ ------ ------
Weighted average shares for fully diluted
income per share computation............... 134.98 137.07 141.57
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Income applicable to common stock:
Income from continuing operations............. $317.9 $286.1 $264.8
Discontinued operations, net.................. -- (29.6) (23.8)
Cumulative effect of accounting
changes, net of taxes...................... -- -- (45.2)
------ ------ ------
Net Income.................................... $317.9 $256.5 $195.8
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Fully diluted income (loss) per share:
Continuing operations...................... $ 2.36 $ 2.09 $ 1.87
Discontinued operations....................... -- (.22) (.17)
Cumulative effect of accounting changes.... -- -- (.32)
------ ------ ------
Net income.................................... $ 2.36 $ 1.87 $ 1.38
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