Exhibit 11.1 EARNINGS PER SHARE PRIMARY COMPUTATION (In millions except share and per share amounts) Three months ended September 30, 1994 1993 ---------------------------------------------------------------- Basis for computation of earnings per common and common equivalent shares: Earnings from continuing operations $ 34.7 $ 35.3 Deduct dividends on 4% preferred stock (.1) (.1) ------- ------- Earnings from continuing operations available to common shareholders 34.6 35.2 Loss from discontinued operations (.8) (.8) ------- ------- Available for common shareholders $ 33.8 $ 34.4 ======= ======= Number of shares: Weighted average shares outstanding 76,898,893 76,617,398 Shares issuable upon exercise of stock options, net of shares assumed to be repurchased 658,085 750,239 ---------- ---------- 77,556,978 77,367,637 ========== ========== Earnings per common share: Continuing operations $ .45 $ .45 Discontinued operations (.01) (.01) ------- ------- Net earnings $ .44 $ .44 ======= =======