Exhibit 11B
GATX CORPORATION AND SUBSIDIARIES
COMPUTATION OF NET INCOME PER SHARE OF COMMON STOCK
AND COMMON STOCK EQUIVALENTS
ASSUMING FULL DILUTION
In Millions, Except Per Share Amounts
Three Months Six Months
Ended June 30 Ended June 30
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1996 1995 1996 1995
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Average number of shares used to compute
primary earnings per share.................................... 20.5 20.3 20.5 20.2
Common Stock issuable upon assumed conversion
of Preferred Stock........................................... 4.0 4.1 4.0 4.1
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Total shares...................................................... 24.5 24.4 24.5 24.3
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Net income, as adjusted per primary computation................... $ 22.4 $ 26.6 $ 43.8 $ 49.0
Add - Dividends paid and accrued on Preferred Stock............... 3.3 3.3 6.6 6.6
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Net income, as adjusted........................................... $ 25.7 $ 29.9 $ 50.4 $ 55.6
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Net income per share, assuming full dilution...................... $ 1.05 $ 1.23 $ 2.06 $ 2.29
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