1 of 2
EXHIBIT 11
GENERAL ELECTRIC COMPANY
COMPUTATION OF PER SHARE EARNINGS -a)
(Shares in thousands; dollar amounts, except
earnings per share, in millions)
Basic Fully
Earnings Primary diluted
per common earnings earnings
THIRD QUARTER ENDED SEPTEMBER 30, 1997 share per share per share
---------- ---------- ----------
Net earnings applicable to common stock $ 2,014 $ 2,014 $ 2,014
Dividend equivalents (net of tax) applicable
to deferred incentive compensation shares -- 3 3
---------- ---------- ----------
Earnings for per-share calculations $ 2,014 $ 2,017 $ 2,017
---------- ---------- ----------
Average number of shares outstanding 3,269,409 3,269,409 3,269,409
Average number of deferred incentive
compensation shares -- 14,750 14,750
Average stock option shares -- 53,912 54,011
Average number of restricted stock units -- 5,137 5,143
---------- ---------- ----------
Shares for earnings calculation 3,269,409 3,343,208 3,343,313
---------- ---------- ----------
Earnings per share $ 0.62 $ 0.60 $ 0.60
========== ========== ==========
THIRD QUARTER ENDED SEPTEMBER 30, 1996
Net earnings applicable to common stock $ 1,788 $ 1,788 $ 1,788
Dividend equivalents (net of tax) applicable
to deferred incentive compensation shares -- 2 2
---------- ---------- ----------
Earnings for per-share calculations $ 1,788 $ 1,790 $ 1,790
---------- ---------- ----------
Average number of shares outstanding 3,297,675 3,297,675 3,297,675
Average number of deferred incentive
compensation shares -- 15,160 15,160
Average stock option shares -- 43,485 47,101
Average number of restricted stock units -- 4,138 4,350
---------- ---------- ----------
Shares for earnings calculation 3,297,675 3,360,458 3,364,286
---------- ---------- ----------
Earnings per share $ 0.54 $ 0.53 $ 0.53
========== ========== ==========
(a- Adjusted for the two-for-one stock split on April 28, 1997.
2 of 2
EXHIBIT 11
GENERAL ELECTRIC COMPANY
COMPUTATION OF PER SHARE EARNINGS -a)
(Shares in thousands; dollar amounts, except
earnings per share, in millions)
Basic Fully
Earnings Primary diluted
per common earnings earnings
NINE MONTHS ENDED SEPTEMBER 30, 1997 share per share per share
---------- ---------- ----------
Net earnings applicable to common stock $ 5,853 $ 5,853 $ 5,853
Dividend equivalents (net of tax) applicable
to deferred incentive compensation shares -- 8 8
---------- ---------- ----------
Earnings for per-share calculations $ 5,853 $ 5,861 $ 5,861
---------- ---------- ----------
Average number of shares outstanding 3,277,217 3,277,217 3,277,217
Average number of deferred incentive
compensation shares -- 14,955 14,955
Average stock option shares -- 52,427 57,711
Average number of restricted stock units -- 4,795 5,085
---------- ---------- ----------
Shares for earnings calculation 3,277,217 3,349,394 3,354,968
---------- ---------- ----------
Earnings per share $ 1.79 $ 1.75 $ 1.75
========== ========== ==========
NINE MONTHS ENDED SEPTEMBER 30, 1996
Net earnings applicable to common stock $ 5,213 $ 5,213 $ 5,213
Dividend equivalents (net of tax) applicable
to deferred incentive compensation shares -- 5 5
---------- ---------- ----------
Earnings for per-share calculations $ 5,213 $ 5,218 $ 5,218
---------- ---------- ----------
Average number of shares outstanding 3,311,971 3,311,971 3,311,971
Average number of deferred incentive
compensation shares -- 15,578 15,578
Average stock option shares -- 41,832 47,950
Average number of restricted stock units -- 3,878 4,242
---------- ---------- ----------
Shares for earnings calculation 3,311,971 3,373,259 3,379,741
---------- ---------- ----------
Earnings per share $ 1.57 $ 1.55 $ 1.54
========== ========== ==========
(a- Adjusted for the two-for-one stock split on April 28, 1997.