EXHIBIT 11.1
CINEPLEX ODEON CORPORATION
STATEMENT RE COMPUTATION OF PER SHARE EARNINGS
(Calculated in accordance with Canadian generally accepted accounting
principles)
(In U.S. dollars, except number of shares)
3 months ended 3 months ended 9 months ended 9 months ended
Sept. 30, 1996 Sept. 30, 1995 Sept. 30, 1996 Sept. 30, 1995
-------------- -------------- -------------- --------------
Basic
- -----
Net income/
(loss) (B) ($2,970,000) $4,333,000 ($21,197,000) ($25,923,000)
============ ========== ============= =============
Weighted average
outstanding common
and subordinate
restricted voting
shares (C) 176,765,000 114,769,000 159,007,000 114,757,000
=========== =========== =========== ===========
Net income(loss)
per share (B/C) ($0.02) $0.04 ($0.13) ($0.23)
======= ====== ======= =======
Fully Diluted
- -------------
Net income/
(loss) ($2,970,000) $4,333,000 ($21,197,000) ($25,923,000)
Imputed interest on
stock options converted
at beginning of year
(net of income tax
of nil) 0 (1) 0 (1) 0 (1) 0 (1)
----------- ----------- ------------ -----------
Adjusted net
income/(loss) (E) ($2,970,000) $4,333,000 ($21,197,000) ($25,923,000)
============ ========== ============= =============
Weighted average
outstanding shares
- - after all
conversions (F) 176,765,000 (2) 114,769,000 (2) 159,007,000 (2) 114,757,000 (2)
=========== =========== =========== ===========
Net income(loss)
per share (E/F) ($0.02) $0.04 ($0.13) ($0.23)
======== ===== ======= ========
(1) Imputed interest calculations would be anti-dilutive and therefore
have been excluded in calculations.
(2) Inclusion of conversions would be anti-dilutive and therefore are
excluded in calculations. Weighted average outstanding shares after
all conversions would be 183,362,000 for the 3 months ended
September 30, 1996, 122,611,000 for the three months ending
September 30, 1995, 166,082,000 for the 9 months ending
September 30, 1996 and 122,616,000 for the 9 months ending
September 30, 1995.