Pitney Bowes Inc. - Form 10-Q Exhibit (i)
Three Months Ended March 31, 1996
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Pitney Bowes Inc.
Computation of Earnings per Share
Three Months Ended March 31,
(Dollars in thousands, except per share data) 1996 1995
Primary
Income from continuing operations (1) $ 106,509 $ 95,989
Discontinued operations - 10,322
Net income applicable to common stock $ 106,509 $ 106,311
Weighted average number of common shares
outstanding 149,876,325 151,117,351
Preference stock, $2.12 cumulative
convertible 746,408 812,206
Stock option and purchase plans 793,348 136,653
Total common and common equivalent shares
outstanding 151,416,081 152,066,210
Income per common and common equivalent share
- primary:
Continuing operations $ .70 $ .63
Discontinued operations - .07
Net income $ .70 $ .70
Fully Diluted
Income from continuing operations $ 106,509 $ 95,989
Discontinued operations - 10,322
Net income applicable to common stock $ 106,509 $ 106,311
Weighted average number of common shares
outstanding 149,876,325 151,117,351
Preference stock, $2.12 cumulative
convertible 746,408 812,206
Stock option and purchase plans 799,305 168,807
Preferred stock, 4% cumulative convertible 11,490 11,550
Total common and common equivalent shares
outstanding 151,433,528 152,109,914
Income per common and common equivalent share
- fully diluted:
Continuing operations $ .70 $ .63
Discontinued operations - .07
Net income $ .70 $ .70
<FN>
(1)Income from continuing operations was adjusted for preferred dividends.