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EXHIBIT 11.1 -- COMPUTATION OF PER-SHARE EARNINGS
IXC COMMUNICATIONS, INC.
COMPUTATION OF EARNINGS (LOSS) PER COMMON SHARE
FOR THE THREE YEARS ENDED DECEMBER 31, 1993, 1994 AND 1995
AND THE THREE MONTH PERIODS ENDED MARCH 31, 1995 and 1996
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
YEAR ENDED DECEMBER 31, THREE MONTHS ENDED MARCH 31,
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1993 1994 1995 1995 1996
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EARNINGS
Adjusted net income (loss) $(23,317) $7,315 $(4,965) $1,267 $(11,699)
Less: Dividends applicable to preferred stock (1,567) (1,752) (1,843) (479) (433)
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Net income (loss) applicable to common stockholders (24,884) 5,563 (6,808) 788 (12,132)
Extraordinary (gain) loss (8,495) (2,298) 1,747 -- --
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Net income (loss) applicable to common stockholders
before extraordinary items $(33,379) $3,265 $(5,061) $ 788 $(12,132)
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PRIMARY
Weighted average number of shares outstanding 23,332 24,310 24,335 24,335 24,335
Add: Effect for periods prior to the initial
public offering (IPO), of common stock
options issued within one year of the IPO 833 833 833 833 833
Add: Dilutive effect of outstanding stock
options -- 9 120 236 --
Less: Assumed repurchase of shares under
the treasury stock method (139) (141) (160) (178) (139)
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Number of shares used to compute earnings (loss)
applicable to common stockholders 24,026 25,011 25,128 25,226 25,029
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FULLY DILUTED
Weighted average number of shares outstanding 23,332 24,310 24,335 24,335 24,335
Add: Effect for periods prior to the initial
public offering (IPO), of common stock
options issued within one year of the IPO 833 833 833 833 833
Add: Dilutive effect of outstanding stock
options -- 9 120 236 --
Less: Assumed repurchase of shares under
the treasury stock method (139) (141) (160) (178) (139)
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Number of shares used to compute earnings (loss)
applicable to common stockholders 24,026 25,011 25,128 25,226 25,029
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PRIMARY INCOME (LOSS) PER COMMON SHARE
Before extraordinary item $(1.39) $0.13 $(0.20) $0.03 $(0.48)
Extraordinary gain (loss) 0.35 0.09 (0.07) -- --
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Net income (loss) $(1.04) $0.22 $(0.27) $0.03 $(0.48)
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FULLY DILUTED INCOME (LOSS) PER COMMON SHARE
Before extraordinary item $(1.39) $0.13 $(0.20) $0.03 $(0.48)
Extraordinary gain (loss) 0.35 0.09 (0.07) -- --
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Net income (loss) $(1.04) $0.22 $(0.27) $0.03 $(0.48)
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