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, 1997 Sept. 30, 1996 Sept. 30, 1997 Sept. 30, 1996
-------------- --------------- --------------- ---------------
Basic
- ------
Net loss (B) ($7,164,000) ($2,970,000) ($19,636,000) ($21,197,000)
============ ============ ============= ==============
Weighted average outstanding
common and subordinate
restricted voting shares (C) 176,799,000 176,765,000 176,793,000 159,007,000
============ =========== ============ ===============
Net loss per share (B/C) ($0.04) ($0.02) ($0.11) ($0.13)
============ =========== ============ ===============
Fully Diluted
- -------------
Net loss ($7,164,000) ($2,970,000) ($19,636,000) ($21,197,000)
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 loss (E) ($7,164,000) ($2,970,000) ($19,636,000) ($21,197,000)
============= ============ ============== ==============
Weighted average
outstanding shares
- - after all conversions (F) 176,799,000 (2) 176,765,000 (2) 176,793,000 (2) 159,007,000 (2)
============ ============= ============ ==============
Net loss per share (E/F) ($0.04) ($0.02) ($0.11) ($0.13)
============ ============= ============ ==============
(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 191,254,000 for the 3 months ended September 30, 1997,
183,362,000 for the 3 months ending September 30, 1996, 191,265,000 for
the 9 months ending Septmber 30, 1997 and 166,082,000 for the 9 months
ending September 30, 1996.