CHIQUITA BRANDS INTERNATIONAL, INC. EXHIBIT 11
COMPUTATION OF EARNINGS PER COMMON SHARE
(In thousands, except per share amounts)
Year Ended December 31,
1994 1993 1992 1991 1990
A.Computation of primary
earnings (loss) per
common share:
Income (loss) before
extraordinary item $(48,700)$(51,081)$(284,040)$128,495$93,918
Dividends on Series A
preferred stock (7,232) -- -- -- --
Income (loss) available to
common shares before
extraordinary item (55,932) (51,081)(284,040) 128,495 93,918
Extraordinary loss from
prepayment of debt (22,840) -- -- -- --
Net income (loss) used to
calculate primary earnings
per share $(78,772)$(51,081)$(284,040)$128,495$93,918
Shares used in calculation of
per share data:
Weighted average common
and equivalent Series C
preference shares
outstanding 52,033 51,427 51,804 47,834 40,100
Dilutive effect of assumed
exercise of certain stock
options and warrants -- -- -- 2,548
1,989
Weighted average common
shares used to calculate
primary earnings (loss)
per share 52,033 51,427 51,804 50,382 42,089
Primary earnings (loss) per
common share:
- Before extraordinary item $(1.07) $(.99)$
(5.48) $2.55 $ 2.23
- Extraordinary item (.44) -- ---
- --
- Net income (loss) $ (1.51 ) $(.99)$
(5.48) $2.55 $ 2.23
CHIQUITA BRANDS INTERNATIONAL, INC.EXHIBIT 11 (cont.)
COMPUTATION OF EARNINGS PER COMMON SHARE
(In thousands, except per share amounts)
Year Ended December 31,
1994 1993 1992 1991 1990
B. Computation of fully
diluted earnings (loss)
per common share:
Income (loss) available to
common shares before
extraordinary item $(55,932)$(51,081)$(284,040)$128,495$93,918
Additional income as a result of
assumed conversion of
convertible debentures -- -- -- 4,836
1,175
Income (loss) used to calculate
fully diluted earnings per share
before extraordinary item (55,932)(51,081)(284,040)133,331
95,093
Extraordinary loss from
prepayment of debt (22,840) -- -- -- --
Net income (loss) used to
calculate fully diluted
earnings per share $(78,772)$(51,081)$(284,040)$133,331$95,093
Shares used in calculation
of per share data:
Weighted average common
shares used to calculate
primary earnings (loss)
per share 52,033 51,427 51,804 50,382 42,089
Additional shares resulting
from assumed exercise of
options and assumed
conversions of convertible
subordinated debentures -- -- -- 2,530
1,201
Weighted average common
shares used to calculate
fully diluted earnings
(loss) per share 52,033 51,427 51,804 52,912 43,290
Fully diluted earnings (loss)
per common share:
- Before extraordinary item $(1.07) $(.99)$
(5.48) $2.52 $ 2.20
- Extraordinary item (.44) -- ---
- --
- Net income (loss) $ (1.51 ) $(.99)$
(5.48) $2.52 $ 2.20