CHIQUITA BRANDS INTERNATIONAL, INC. EXHIBIT 11
COMPUTATION OF EARNINGS PER COMMON SHARE
(In thousands, except per share amounts)
Year Ended December 31,
1995 1994 1993 1992 1991
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A. Primary earnings (loss) per
common share:
- - ------------------------------
Income (loss) from continuing operations $27,969 $(84,311) $(51,081) $(221,708) $110,909
Dividends on Series A preferred stock (8,266) (7,232) -- -- --
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Income (loss) from continuing operations
attributable to common shares 19,703 (91,543) (51,081) (221,708) 110,909
Discontinued operations (11,197) 35,611 -- (62,332) 17,586
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Income (loss) attributable to common
shares before extraordinary item 8,506 (55,932) (51,081) (284,040) 128,495
Extraordinary loss from debt refinancing (7,560) (22,840) -- -- --
-------- -------- -------- -------- --------
Net income (loss) attributable
to common shares $946 $(78,772) $(51,081) $(284,040) $128,495
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Shares used in calculation of per share data:
Weighted average common and equivalent
Series C preference shares outstanding 53,647 52,033 51,427 51,804 47,834
Less restricted common shares (387) -- -- -- --
Dilutive effect of assumed exercise
of stock options and warrants 410 -- -- -- 2,548
-------- -------- -------- -------- --------
53,670 52,033 51,427 51,804 50,382
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Primary earnings (loss) per common share:
- Continuing operations $.37 $(1.76) $(.99) $(4.28) $2.20
- Discontinued operations (.21) .69 -- (1.20) .35
- Extraordinary item (.14) (.44) -- -- --
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- Net income (loss) $.02 $(1.51) $(.99) $(5.48) $2.55
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CHIQUITA BRANDS INTERNATIONAL, INC. EXHIBIT 11 (cont.)
COMPUTATION OF EARNINGS PER COMMON SHARE
(In thousands, except per share amounts)
Year Ended December 31,
1995 1994 1993 1992 1991
-------- -------- -------- -------- --------
B. Fully diluted earnings
(loss) per common share:
- - -----------------------------
Income (loss) from continuing operations $27,969 $(84,311) $(51,081) $(221,708) $110,909
Dividends on Series A preferred stock (8,266) (7,232) -- -- --
Additional income as a result of assumed
conversion of convertible debentures -- -- -- -- 4,836
-------- -------- -------- -------- ----------
Income (loss) from continuing operations
attributable to common shares 19,703 (91,543) (51,081) (221,708) 115,745
Discontinued operations (11,197) 35,611 -- (62,332) 17,586
-------- -------- -------- -------- ---------
Income (loss) attributable to common
shares before extraordinary item 8,506 (55,932) (51,081) (284,040) 133,331
Extraordinary loss from debt refinancing (7,560) (22,840) -- -- --
-------- -------- -------- -------- ---------
Net income (loss) attributable to
common shares $946 $(78,772) $(51,081) $(284,040) $133,331
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Shares used in calculation of
per share data:
Weighted average common and
equivalent Series C preference
shares outstanding 53,647 52,033 51,427 51,804 47,834
Less restricted common shares (355) -- -- -- --
Dilutive effect of assumed exercise
of options and warrants and
assumed conversion of convertible
subordinated debentures 469 -- -- -- 5,078
-------- -------- -------- -------- ---------
53,761 52,033 51,427 51,804 52,912
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Fully diluted earnings (loss)
per common share:
- Continuing operations $.37 $(1.76) $(.99) $(4.28) $2.19
- Discontinued operations (.21) .69 -- (1.20) .33
- Extraordinary item (.14) (.44) -- -- --
-------- -------- -------- -------- ---------
- Net income (loss) $.02 $(1.51) $(.99) $(5.48) $2.52
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