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Exhibit (11) - Statement Re: Computation of Earnings Per Share
COMPUTATION OF EARNINGS PER SHARE
Comerica Incorporated and Subsidiaries
(In thousands, except per share data)
Three Months Ended Nine Months Ended
September 30 September 30
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1995 1994 1995 1994
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Primary:
Average shares outstanding 114,629 118,466 116,207 117,212
Common stock equivalent:
Net effect of the assumed
exercise of stock options 1,364 970 992 936
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Primary average shares 115,993 119,436 117,199 118,148
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Net income $105,302 $100,604 $306,856 $290,645
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Primary net income per share $0.91 $0.84 $2.62 $2.46
Fully diluted:
Average shares outstanding 114,629 118,466 116,207 117,212
Common stock equivalent:
Net effect of the assumed
exercise of stock options 1,472 971 1,490 940
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Fully diluted average shares 116,101 119,437 117,697 118,152
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Net income $105,302 $100,604 $306,856 $290,645
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Fully diluted net income
per share $0.91 $0.84 $2.61 $2.46