Pitney Bowes Inc. - Form 10-Q Pitney Bowes Inc. Six Months Ended June 30, 1994 Computation of Earnings per Share Exhibit (i) Page 14 of 15 Three Months Ended June 30, Six Months Ended June 30, (Dollars in thousands, except per share data) 1994 1993 1994 1993 Primary Income before effect of a change in accounting for postemployment benefits (1). . . . . . . . . . . . . . . . . . $ 98,618 $ 87,305 $ 190,479 $ 169,364 Effect of accounting change. . . . . . . . . . . . . . . . . . . - - (119,532) - Net income applicable to common stock. . . . . . . . . . . . . . $ 98,618 $ 87,305 $ 70,947 $ 169,364 Weighted average number of common shares outstanding . . . . . . 157,752,918 157,314,349 157,918,406 157,250,716 Preference stock, $2.12 cumulative convertible . . . . . . . . . 850,662 911,918 860,118 920,598 Stock option and purchase plans. . . . . . . . . . . . . . . . . 513,514 775,698 571,307 787,440 Total common and common equivalent shares outstanding. . . . . . 159,117,094 159,001,965 159,349,831 158,958,754 Income per common and common equivalent share - primary: Income before effect of a change in accounting for postemployment benefits. . . . . . . . . . . . . . . . . . . $ .62 $ .55 $ 1.20 $ 1.07 Effect of accounting change. . . . . . . . . . . . . . . . . . - - (.75) - Net income . . . . . . . . . . . . . . . . . . . . . . . . . . $ .62 $ .55 $ .45 $ 1.07 Fully Diluted Income before effect of a change in accounting for postemployment benefits. . . . . . . . . . . . . . . . . . . . $ 98,618 $ 87,306 $ 190,480 $ 169,366 Effect of accounting change. . . . . . . . . . . . . . . . . . . - - (119,532) - Net income applicable to common stock. . . . . . . . . . . . . . $ 98,618 $ 87,306 $ 70,948 $ 169,366 Weighted average number of common shares outstanding . . . . . . 157,752,918 157,314,349 157,918,406 157,250,716 Preference stock, $2.12 cumulative convertible . . . . . . . . . 850,662 911,918 860,118 920,598 Stock option and purchase plans. . . . . . . . . . . . . . . . . 522,388 780,932 592,135 794,162 Preferred stock, 4% cumulative convertible . . . . . . . . . . . 15,235 25,888 15,804 25,925 Total common and common equivalent shares outstanding. . . . . . 159,141,203 159,033,087 159,386,463 158,991,401 Income per common and common equivalent share - fully diluted: Income before effect of a change in accounting for postemployment benefits. . . . . . . . . . . . . . . . . . . $ .62 $ .55 $ 1.20 $ 1.07 Effect of accounting change. . . . . . . . . . . . . . . . . . - - (.75) - Net income . . . . . . . . . . . . . . . . . . . . . . . . . . $ .62 $ .55 $ .45 $ 1.07 <FN> (1) Income before effect of a change in accounting for postemployment benefits was adjusted for preferred dividends.