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 June 30
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1997 1998
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Net Income ................................................. $ 850 $ 642
Less: dividends on preferred stock ......................... 13 12
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Adjusted net income applicable to common shares ............ $ 837 $ 630
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Weighted average number of basic common shares outstanding . 787,005 781,572
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Net income per common share ................................ $ 1.06 $ 0.81
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Net Income ................................................. $ 850 $ 642
Less: additional contribution to ESOP ...................... 2 1
Less: Stock Appreciation Rights compensation
(expense) income ................................... (2) -
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Adjusted net income applicable to common shares ............ $ 850 $ 641
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Weighted average number of basic common shares outstanding . 787,005 781,572
Issuable on assumed exercise of stock options .............. 11,267 12,682
Assumed conversion of preferred stock ...................... 17,371 16,857
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Total ................................................. 815,643 811,111
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Net income per common share -- assuming dilution ........... $ 1.04 $ 0.79
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MOBIL - 20 -
Exhibit 11. (concluded)
MOBIL CORPORATION
COMPUTATION OF EARNINGS PER COMMON SHARE
(In millions, except for per-share amounts;
number of shares in thousands)
For the Six Months
Ended June 30,
1997 1998
Net income ................................................ $ 1,676 $ 1,347
Less dividends on preferred stock ......................... 26 25
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Adjusted net income applicable to common shares ........... $ 1,650 $ 1,322
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Weighted average number of basic common shares outstanding 787,574 781,843
Net income per common share ............................... $ 2.10 $ 1.69
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Net Income ................................................ $ 1,676 $ 1,347
Less: additional contribution to ESOP ..................... 4 3
Less: Stock Appreciation Rights compensation
(expense) income .................................. (3) 4
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Adjusted net income applicable to common shares ........... $ 1,675 $ 1,340
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Weighted average number of basic common shares outstanding 787,574 781,843
Issuable on assumed exercise of stock options ............. 10,834 11,898
Assumed conversion of preferred stock ..................... 17,437 16,929
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Total .................................................. 815,845 810,670
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Net income per common share -- assuming dilution .......... $ 2.05 $ 1.65
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MOBIL - 21 -