Exhibit 11.
NORWEST CORPORATION AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
In thousands, except per share Amounts Year Ended December 31
1993 1992 1991 1990 1989
PRIMARY:
Weighted average number of common shares
outstanding $290,689 288,130 283,240 269,357 267,310
Net effect of assumed exercise of stock options
based on treasury stock method using average
market price 2,658 2,422 2,114 1,104 1,704
$293,347 290,522 285,354 270,461 269,014
Income before cumulative effect of a change in
accounting for postretirement medical benefits $653,632 440,035 400,870 156,277 274,944
Less dividends accrued on Cumulative
Preferred Stock (11,606) (11,751) (12,581) (2,592) (6,105)
Less dividends accrued on Cumulative
Convertible Preferred Stock, Series B (16,013) (16,078) (6,034) - -
Income before cummulative effect of a change in
accounting for postretirement medical
benefits, as adjusted 626,013 412,206 382,255 153,685 268,839
Cumulative effect of a change in accounting
for postretirement medical benefits - (75,974) - - -
Net income, as adjusted $626,013 336,232 382,255 153,685 268,839
Income per share before cumulative effect
of a change in accounting for
postretirement medical benefits $ 2.13 1.42 1.34 0.57 1.00
Net income per share $ 2.13 1.16 1.34 0.57 1.00
FULLY DILUTED:
Weighted average number of common shares
outstanding 290,689 288,130 283,240 269,357 267,310
Net effect of assumed exercise of stock options
based on treasury stock method using average
market price or period-end market price,
whichever is higher 2,634 2,944 3,106 1,288 1,966
Assumed conversion of 6-3/4% convertible
subordinated debentures due 2003 and 12%
convertible notes due 1993 as of the
beginning of the period 73 1,206 1,722 2,032 2,571
Assumed conversion of Cumulative
Convertible Preferred Stock, Series B 12,628 12,683 4,656 - -
306,024 304,963 292,724 272,677 271,847
Income before cumulative effect of a change
in accounting for postretirement
medical benefits $653,632 440,035 400,870 156,277 274,944
Less dividends accrued on Cumulative
Preferred Stock (11,606) (11,751) (12,581) (2,592) (6,105)
Add interest and amortization of debt expense, net
of income tax effect, for 6-3/4% convertible
subordinated debentures due 2003 and 12%
convertible notes due 1993 16 699 869 938 1,048
Income before cumulative effect of a change in
accounting for postretirement medical
benefits, as adjusted 642,042 428,983 389,158 154,623 269,887
Cumulative effect of a change in accounting for
postretirement mendical benefits - (75,974) - - -
Net income, as adjusted $642,042 353,009 389,158 154,623 269,887
Income per share before cumulative effect
of a change in accounting for
postretirement medical benefits $ 2.10 1.41 1.33 0.57 0.99
Net income per share $ 2.10 1.16 1.33 0.57 0.99
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