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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 Six Months Ended
June 30 June 30
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1996 1995 1996 1995
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Primary:
Average shares outstanding 116,202 117,400 116,810 117,008
Common stock equivalent:
Net effect of the assumed
exercise of stock options 1,896 1,038 1,810 857
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Primary average shares 118,098 118,438 118,620 117,865
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Net income $118,221 $101,532 $234,827 $201,554
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Primary net income per share $1.00 $0.86 $1.98 $1.71
Fully diluted:
Average shares outstanding 116,202 117,400 116,810 117,008
Common stock equivalent:
Net effect of the assumed
exercise of stock options 1,982 1,237 2,014 1,176
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Fully diluted average shares 118,184 118,637 118,824 118,184
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Net income $118,221 $101,532 $234,827 $201,554
Less preferred stock dividends - - - -
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Net income applicable to common
stock $118,221 $101,532 $234,827 $201,554
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Fully diluted net income
per share $1.00 $0.86 $1.98 $1.71