Exhibit 11.1
EARNINGS PER SHARE
PRIMARY COMPUTATION
Years Ended June 30, 1997, 1996 and 1995
($ in millions, except share and per share amounts)
1997 1996 1995
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Basis for computation of earnings per
common and common equivalent shares:
Earnings from continuing operations $185.7 $153.7 $136.7
Deduct dividends on 4 Percent
cumulative preferred stock (.4) (.4) (.4)
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Earnings from continuing operations
available for common shareholders 185.3 153.3 136.3
Discontinued operations 4.4 58.2 43.6
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Available for common shareholders $189.7 $211.5 $179.9
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Number of common and common equivalent
shares:
Weighted average shares outstanding 73,837,424 75,183,729 76,687,154
Shares issuable upon exercise of
stock options, net of shares
assumed to be repurchased 1,222,803 1,159,663 770,960
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75,060,227 76,343,392 77,458,114
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Earnings per common and common
equivalent share:
Continuing operations $2.47 $2.01 $1.76
Discontinued operations .06 .76 .56
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Net earnings $2.53 $2.77 $2.32
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