Exhibit 11
AGCO CORPORATION AND SUBSIDIARIES
STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS (1)
(in thousands, except per share data)
Three Months Ended
June 30,
----------------------------------------
PRIMARY EARNINGS PER SHARE 1996 1995
------------------- -------------------
Weighted average number of common shares outstanding . . . . . . . 53,738 44,260
Shares issued upon assumed exercise of outstanding
stock options . . . . . . . . . . . . . . . . . . . . . . . . . 484 636
------------------- -------------------
Weighted average number of common and common
equivalent shares outstanding . . . . . . . . . . . . . . . . . 54,222 44,896
=================== ===================
Income before extraordinary loss . . . . . . . . . . . . . . . . . $37,508 $35,888
Extraordinary loss . . . . . . . . . . . . . . . . . . . . . . . . - -
------------------- -------------------
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37,508 35,888
Preferred stock dividends . . . . . . . . . . . . . . . . . . . . - 799
------------------- -------------------
Net income available for common stockholders . . . . . . . . . . . $37,508 $35,089
=================== ===================
Net income per common share:
Income before extraordinary loss . . . . . . . . . . . . . . $ 0.69 $ 0.78
Extraordinary loss . . . . . . . . . . . . . . . . . . . . . - -
------------------- -------------------
Net income . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.69 $ 0.78
=================== ===================
FULLY DILUTED EARNINGS PER SHARE
Weighted average number of common shares outstanding . . . . . . . 53,738 44,260
Shares issued upon assumed conversion of the Convertible
Subordinated Debentures . . . . . . . . . . . . . . . . . . . . 3,161 11,272
Shares issued upon assumed exercise of outstanding
stock options (2) . . . . . . . . . . . . . . . . . . . . . . . 485 646
------------------- -------------------
Weighted average number of common and common
equivalent shares outstanding . . . . . . . . . . . . . . . . . 57,384 56,178
=================== ===================
Income before extraordinary loss . . . . . . . . . . . . . . . . . $37,508 $35,888
Extraordinary loss . . . . . . . . . . . . . . . . . . . . . . . . - -
------------------- -------------------
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37,508 35,888
Interest expense on Convertible Subordinated Debentures, net of
applicable income taxes . . . . . . . . . . . . . . . . . . . . 156 -
------------------- -------------------
Net income available for common stockholders . . . . . . . . . . . $37,664 $35,888
=================== ===================
Net income per common share:
Income before extraordinary loss . . . . . . . . . . . . . . $ 0.66 $ 0.64
Extraordinary loss . . . . . . . . . . . . . . . . . . . . . - -
------------------- -------------------
Net income . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.66 $ 0.64
=================== ===================
(1) All numbers of shares in this exhibit are weighted on the basis of the
number of days the shares were outstanding or assumed to be outstanding
during each period. All share data has been restated to reflect the
two-for-one stock split, effected January 31, 1996.
(2) Based on the treasury stock method using the higher of the average or period end market price.
Exhibit II
AGCO CORPORATION AND SUBSIDIARIES
STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS (1)
(in thousands, except per share data)
Six Months Ended
June 30,
----------------------------------------
PRIMARY EARNINGS PER SHARE 1996 1995
------------------- -------------------
Weighted average number of common shares outstanding . . . . . . . 52,248 43,870
Shares issued upon assumed exercise of outstanding
stock options . . . . . . . . . . . . . . . . . . . . . . . . . 509 604
------------------- -------------------
Weighted average number of common and common
equivalent shares outstanding . . . . . . . . . . . . . . . . . 52,757 44,474
=================== ===================
Income before extraordinary loss . . . . . . . . . . . . . . . . . $58,103 $59,272
Extraordinary loss . . . . . . . . . . . . . . . . . . . . . . . . (3,503) -
------------------- -------------------
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54,600 59,272
Preferred stock dividends . . . . . . . . . . . . . . . . . . . . - 2,012
------------------- -------------------
Net income available for common stockholders . . . . . . . . . . . $54,600 $57,260
=================== ===================
Net income per common share:
Income before extraordinary loss . . . . . . . . . . . . . . $ 1.10 $ 1.29
Extraordinary loss . . . . . . . . . . . . . . . . . . . . . (0.07) -
------------------- -------------------
Net income . . . . . . . . . . . . . . . . . . . . . . . . . $ 1.03 $ 1.29
=================== ===================
FULLY DILUTED EARNINGS PER SHARE
Weighted average number of common shares outstanding . . . . . . . 52,248 43,870
Shares issued upon assumed conversion of the Convertible
Subordinated Debentures . . . . . . . . . . . . . . . . . . . . 4,470 11,536
Shares issued upon assumed exercise of outstanding
stock options (2) . . . . . . . . . . . . . . . . . . . . . . . 519 674
------------------- -------------------
Weighted average number of common and common
equivalent shares outstanding . . . . . . . . . . . . . . . . . 57,237 56,080
=================== ===================
Income before extraordinary loss . . . . . . . . . . . . . . . . . $58,103 $59,272
Extraordinary loss . . . . . . . . . . . . . . . . . . . . . . . . (3,503) -
------------------- -------------------
Net income . . . . . . . . . . . . . . . . . . . . . . . . . . . . 54,600 59,272
Interest expense on Convertible Subordinated Debentures, net of
applicable income taxes . . . . . . . . . . . . . . . . . . . . 529 -
------------------- -------------------
Net income available for common stockholders . . . . . . . . . . . $55,129 $59,272
=================== ===================
Net income per common share:
Income before extraordinary loss . . . . . . . . . . . . . . $ 1.02 $ 1.06
Extraordinary loss . . . . . . . . . . . . . . . . . . . . . (0.06) -
------------------- -------------------
Net income . . . . . . . . . . . . . . . . . . . . . . . . . $ 0.96 $ 1.06
=================== ===================
(1) All numbers of shares in this exhibit are weighted on the basis of the
number of days the shares were outstanding or assumed to be outstanding
during each period. All share data has been restated to reflect the
two-for-one stock split, effected January 31, 1996.
(2) Based on the treasury stock method using the higher of the average or period end market price.