Exhibit 11A
GATX CORPORATION AND SUBSIDIARIES
COMPUTATION OF NET INCOME PER SHARE OF COMMON STOCK
AND COMMON STOCK EQUIVALENTS
In Millions, Except Per Share Amounts
Three Months Ended Nine Months Ended
September 30 September 30
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1996 1995 1996 1995
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Average number of shares of
Common Stock outstanding .......................... 20.2 20.1 20.2 20.0
Shares issuable upon assumed exercise of stock options,
reduced by the number of shares which could have
been purchased with the proceeds from exercise of
such options ...................................... .3 .4 .3 .3
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Total shares .......................................... 20.5 20.5 20.5 20.3
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Net income ............................................ $33.4 $26.5 $83.8 $82.1
Deduct - Dividends paid and accrued on
Preferred Stock ................................... 3.3 3.3 9.9 9.9
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Net income, as adjusted ............................... $30.1 $23.2 $73.9 $72.2
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Net income per share .................................. $1.47 $1.13 $3.61 $3.55
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