THE AES CORPORATION Exhibit 27
STATEMENTS REGARDING COMPUTATION OF EARNINGS PER SHARE
FOR THE PERIODS ENDED SEPTEMBER 30, 1996 AND 1997
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Three Three Nine Nine
Months Months Months Months
Ended Ended Ended Ended
9/30/96 9/30/97 9/30/96 9/30/97
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($ in millions, except per share amounts)
PRIMARY
Weighted Average Number of Shares
of Common Stock Outstanding ............. 151.6 173.1 150.4 164.1
Net effect of Dilutive Stock Options and
Warrants Based on the Treasury Stock
Method Using Average Market Price ....... 2.8 4.6 2.2 4.4
Stock Units Allocated to the Deferred
Compensation Plans for
Executives and Directors ................ 0.5 0.5 0.5 0.5
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Weighted average shares
outstanding .......................... 154.9 178.2 153.1 169.0
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Net Income Before Extraordinary Item ... $ 32 $ 50 $ 89 $ 132
Extraordinary Item ................ -- (3) -- (3)
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Net Income ............................. $ 32 $ 47 $ 89 $ 129
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Per Share Amount Before Extraordinary I $ 0.21 $ 0.28 $ 0.58 $ 0.78
Extraordinary Item ................ -- (0.02) -- (0.02)
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Per Share Amount ....................... $ 0.21 $ 0.26 $ 0.58 $ 0.76
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FULLY DILUTED
Weighted Average Number of Shares
of Common Stock Outstanding ............. 151.6 173.1 150.4 164.1
Net effect of Dilutive Stock Options and
Warrants Based on the Treasury Stock
Method Using Ending Market Price ........ 3.2 4.8 3.4 4.9
Stock Units Allocated to the Deferred
Compensation Plans for
Executives and Directors ................ 0.5 0.5 0.5 0.5
Effect of Convertible Debt - Based on
the If-Converted Method ................. -- 6.9 -- 4.8
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Weighted average shares
outstanding .......................... 155.3 185.3 154.3 174.3
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Net Income Before Extraordinary Item ... $ 32 $ 50 $ 89 $ 132
Additional Contribution to Net Income if
Convertible Debt is fully converted ...... -- 1 -- 3
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Adjusted Net Income Before Extraordinary
Item .............................. $ 32 $ 51 $ 89 $ 135
Extraordinary Item ................ -- (3) -- (3)
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Adjusted Net Income .................... $ 32 $ 48 $ 89 $ 132
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Per Share Amount Before Extraordinary I $ 0.21 $ 0.28 $ 0.58 $ 0.77
Extraordinary Item ................ -- (0.02) -- (0.02)
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Per Share Amount ....................... $ 0.21 $ 0.26 $ 0.58 $ 0.75
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