1 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 March 31 ------------------- 1999 1998 -------- ------- Basic: Average shares outstanding 155,857 156,717 Net income $159,112 $144,383 Less preferred stock dividends 4,275 4,275 -------- -------- Net income applicable to common stock $154,837 $140,108 ======== ======== Basic net income per share $0.99 $0.89 Diluted Average shares outstanding 155,857 156,717 Nonvested stock 176 190 Common stock equivalent: Net effect of the assumed exercise of stock options 2,401 2,861 -------- -------- Diluted average shares 158,434 159,768 ======== ======== Net income $159,112 $144,383 Less preferred stock dividends 4,275 4,275 -------- -------- Net income applicable to common stock $154,837 $140,108 ======== ======== Diluted net income per share $0.98 $0.88