Exhibit 11.1 EARNINGS PER SHARE PRIMARY COMPUTATION ($ in millions except share and per share amounts) Nine Months Ended March 31, 1995 1994 - ---------------------------------------------------------------------- Basis for computation of earnings per common and common equivalent shares: Earnings from continuing operations $ 123.4 $ 114.9 Deduct dividends on 4 Percent cumulative preferred stock (.3) (.3) -------- -------- Earnings from continuing operations available to common shareholders 123.1 114.6 Loss from discontinued operations (2.7) (2.1) -------- -------- Available for common shareholders $ 120.4 $ 112.5 ======== ======== Number of shares: Weighted average shares outstanding 76,681,341 76,750,855 Shares issuable upon exercise of stock options, net of shares assumed to be repurchased 708,003 863,974 ---------- ---------- 77,389,344 77,614,829 ========== ========== Earnings per common share: Continuing operations $1.59 $1.48 Discontinued operations (.03) (.03) ------ ------ Net earnings $1.56 $1.45 ====== ======