Exhibit 11.1 EARNINGS PER SHARE PRIMARY COMPUTATION ($ in millions except share and per share amounts) Three Months Ended September 30, 1995 1994 - -------------------------------------------------------------------- Basis for computation of earnings per common and common equivalent shares: Earnings from continuing operations $ 35.7 $ 30.5 Deduct dividends on 4 Percent cumulative preferred stock (.1) (.1) -------- -------- Earnings from continuing operations available to common shareholders 35.6 30.4 Discontinued operations 3.5 3.4 -------- -------- Available for common shareholders $ 39.1 $ 33.8 ======== ======== Number of shares: Weighted average shares outstanding 76,712,609 76,898,893 Shares issuable upon exercise of stock options, net of shares assumed to be repurchased 1,212,131 658,085 ---------- ---------- 77,924,740 77,556,978 ========== ========== Earnings per common share: Continuing operations $.46 $.40 Discontinued operations .04 .04 ----- ----- Net earnings $.50 $.44 ====== ======