Exhibit 11.
MOBIL CORPORATION
COMPUTATION OF EARNINGS PER COMMON SHARE
(In millions, except for per-share amounts;
number of shares in thousands)
For the Three Months
Ended March 31,
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1997 1998
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Net Income ............................................... $ 826 $ 705
Less: dividends on preferred stock ....................... 13 13
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Adjusted net income applicable to common shares .......... $ 813 $ 692
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Weighted average number of basic common shares outstanding 788,149 782,117
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Net income per common share .............................. $ 1.03 $ .88
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Net Income ............................................... $ 826 $ 705
Less: additional contribution to ESOP .................... 2 1
Less: Stock Appreciation Rights compensation
(expense) income ................................. (1) 4
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Adjusted net income applicable to common shares .......... $ 825 $ 700
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Weighted average number of basic common shares outstanding 788,149 782,117
Issuable on assumed exercise of stock options ............ 10,644 11,373
Assumed conversion of preferred stock .................... 17,502 17,000
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Total ............................................... 816,296 810,490
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Net income per common share -- assuming dilution ......... $ 1.01 $ .86
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MOBIL - 17 -