Exhibit 11.1 EARNINGS PER SHARE PRIMARY COMPUTATION ($ in millions except share and per share amounts) Six Months Ended December 31, 1994 1993 - ---------------------------------------------------------------------------------- Basis for computation of earnings per common and common equivalent shares: Earnings from continuing operations $ 75.3 $ 72.0 Deduct dividends on 4 Percent cumulative preferred stock (.2) (.2) -------- ------- Earnings from continuing operations available to common shareholders 75.1 71.8 Loss from discontinued operations (1.6) (1.5) -------- ------- Available for common shareholders $ 73.5 $ 70.3 ======== ======= Number of shares: Weighted average shares outstanding 76,757,943 76,671,461 Shares issuable upon exercise of stock options, net of shares assumed to be repurchased 645,205 860,860 ---------- ---------- 77,403,148 77,532,321 ========== ========== Earnings per common share: Continuing operations $ .97 $ .93 Discontinued operations (.02) (.02) -------- ------- Net earnings $ .95 $ .91 ======== =======