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VK/AC HOLDING, INC. AND SUBSIDIARIES
Computation of Earnings Per Share
(In 000's except per share data)
Three Months Ended March 31,
1996 1995
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Primary Fully Diluted Primary Fully Diluted
Net Income $15,159 $15,159 $5,868 $5,868
Less Accretion to Redemption Value 0 0 (1,620) (1,620)
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Net Income Available to Common Stockholders 15,159 15,159 4,248 4,248
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Weighted Average Common Shares 2,434 2,434 2,402 2,402
Effect of Stock Options Calculated According to
Treasury Stock Method 93 93 130 130
Preferred Shares Convertible into Common
Shares 33 33 33 33
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Weighted Average Number of Common and
Common Equivalent Shares Outstanding 2,560 2,560 2,565 2,565
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Earnings Per Share $5.92 $5.92 $1.66 $1.66
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