Exhibit 11.3
EARNINGS PER SHARE
PRIMARY COMPUTATION
($ in millions except share and per share amounts)
Quarter Ended
December 31,
1994 1993
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Basis for computation of earnings per
common and common equivalent shares:
Earnings from continuing operations $ 40.6 $ 36.7
Deduct dividends on 4 Percent
cumulative preferred stock (.1) (.1)
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Earnings from continuing operations
available to common shareholders 40.5 36.6
Loss from discontinued operations (.8) (.7)
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Available for common shareholders $ 39.7 $ 35.9
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Number of shares:
Weighted average shares outstanding 76,616,993 76,725,524
Shares issuable upon exercise of stock options,
net of shares assumed to be repurchased 632,325 971,481
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77,249,318 77,697,005
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Earnings per common share:
Continuing operations $ .52 $ .47
Discontinued operations (.01) (.01)
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Net earnings $ .51 $ .46
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