TANDY CORPORATION EXHIBIT 11
STATEMENT OF COMPUTATION OF EARNINGS PER SHARE
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Three Months Ended June 30, Six Months Ended June 30,
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(In thousands, except per share amounts) 1996 1995 1996 1995
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Primary Earnings Per Share
Reconciliation of net income per statements of income to
amounts used in computation of primary earnings per share:
Net income, as reported $ 9,299 $ 37,964 $ 23,779 $ 76,899
Less dividends on preferred stock:
Series B (1,571) (1,631) (3,176) (3,298)
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Net income available to common
shareholders for primary earnings per share $ 7,728 $ 36,333 $ 20,603 $ 73,601
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Weighted average number of common shares outstanding 60,565 65,763 60,851 62,216
Weighted average number of $2.14 depositary shares,
representing Series C preferred stock, treated as
common stock due to mandatory conversion (c) -- -- -- 4,505
Weighted average number of common shares issuable
under stock option plans, net of assumed treasury stock
repurchases at average market prices 446 477 338 468
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Weighted average number of common and common
equivalent shares outstanding 61,011 66,240 61,189 67,189
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Net income available per average
common and common equivalent share $ 0.13 $ 0.55 $ 0.34 $ 1.10
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Fully Diluted Earnings Per Share (a)
Reconciliation of net income per statements of income to
amounts used in computation of fully diluted earnings per share:
Net income available to common shareholders $ 7,728 $ 36,333 $ 20,603 $ 73,601
Adjustments for assumed conversion of Series B preferred stock
to common stock as of the beginning of the period:
Plus dividends on Series B preferred stock (b) 1,631 (b) 3,298
Less additional contribution that would have been required
for the TESOP if Series B preferred stock had been converted (b) (938) (b) (1,870)
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Net income available per common and
common equivalent share, as adjusted $ 7,728 $ 37,026 $ 20,603 $ 75,029
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Reconciliation of weighted average number of shares outstanding
to amount used in computation of fully diluted earnings per share:
Weighted average number of shares outstanding 61,011 66,240 61,189 67,189
Adjusted to reflect assumed exercise of stock
options as of the beginning of the period (b) 164 175 197
Adjustment to reflect assumed conversion of Series B preferred
stock to common stock as of the beginning of the period (b) 1,915 (b) 1,926
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Weighted average number of common and common
equivalent shares outstanding, as adjusted 61,011 68,319 61,364 69,312
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Fully diluted net income available per average
common and common equivalent share $ 0.13 $ 0.54 $ 0.34 $ 1.08
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(a) This calculation is submitted in accordance with Regulation S-K, Item 601(b)(11) although not required by
footnote 2 to paragraph 14 of APB Opinion No. 15 because it results in dilution of less than 3%.
(b) For the three and six months ended June 30, 1996, these items are anti-dilutive and thus are omitted from the
calculation.
(c) The amount in 1995 represents the pro rata portion of the Series C preferred stock outstanding prior to their
conversion effective March 10, 1995.