EXHIBIT 11
FURNITURE BRANDS INTERNATIONAL, INC.
STATEMENT RE COMPUTATION OF NET EARNINGS PER COMMON SHARE
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Three Months Three Months
Ended Ended
March 31, March 31,
1997 1996
Primary: ------------ ------------
Weighted average common shares outstanding during the period... 61,447,735 53,526,719
Common shares issuable on exercise of stock options (1)........ 1,368,368 842,656
Common shares issuable on exercise of warrants (2)............. 899,812 1,424,850
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Weighted average common and common equivalent shares outstanding
for primary calculation...................................... 63,715,915 55,794,225
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Fully diluted:
Weighted average common and common equivalent shares outstanding
for primary calculation....................................... 63,715,915 55,794,225
Common shares issuable on exercise of stock options (3)........ 9,249 29,828
Common shares issuable on exercise of warrants (4)............. 6,791 158,230
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Weighted average common and common equivalent shares outstanding
for fully diluted calculation................................. 63,731,955 55,982,283
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EXHIBIT 11 (CONTINUED)
FURNITURE BRANDS INTERNATIONAL, INC.
NOTES TO STATEMENT RE COMPUTATION OF NET EARNINGS PER COMMON SHARE
(1) Includes common stock options, the exercise of which would result in dilution of net earnings
per common share. Such common stock options have been considered as exercised and the proceeds
therefrom were used to purchase common stock at the average common stock market price, if the
average common stock market price was higher than the common stock option exercise price during
the period.
(2) Includes common stock warrants, the exercise of which would result in dilution of net earnings
per common share. Such common stock warrants have been considered as exercised and the proceeds
therefrom were used to purchase common stock at the average common stock market price, if the
average common stock market price was higher than the common stock warrant exercise price during
the period.
(3) Additional common shares issuable resulting from the application of the same principles
described in Note (1), except that the proceeds from assumed common stock options exercised were
used to purchase common stock at the month end common stock market price, if the month end
common stock market price was higher than the average common stock market price during the
period.
(4) Additional common shares issuable resulting from the application of the same principles
described in Note (2), except that the proceeds from assumed common stock warrants exercised
were used to purchase common stock at the month end common stock market price, if the month end
common stock market price was higher than the average common stock market price during the
period.