BANDAG, INCORPORATED AND SUBSIDIARIES
Exhibit 11
COMPUTATION OF EARNINGS PER SHARE
For The Three For The Six
Months Ended Months Ended
June, 30 June, 30
1996 1995 1996 1995
(In thousands except per share data)
Net earnings per common and common
equivalent share:
Weighted average number of shares
of Common Stock, Class A Common
Stock and Class B Common Stock
outstanding 24,020 25,728 24,091 25,895
Additional shares assuming
exercise of dilutive stock
options -based on treasury stock
method using average market price 103 119 128 119
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AVERAGE NUMBER OF COMMON AND
COMMON EQUIVALENT SHARES 24,123 25,847 24,219 26,014
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Net earnings $20,094 $24,910 $35,960 $44,489
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Net earnings per common and common
equivalent share 0.83 $0.96 $1.48 $1.71
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Net earnings per common share
assuming full dilution:
Weighted average shares outstanding 24,020 25,728 24,091 25,895
Additional shares assuming exercise
of dilutive stock options -based
on the treasury stock method using
the month-end price if higher than
the average market price 103 123 128 123
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FULLY-DILUTED AVERAGE NUMBER OF
COMMON AND COMMON EQUIVALENT
SHARES 24,123 25,851 24,219 26,018
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Net earnings $20,094 $24,910 $35,960 $44,489
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Net earnings per common and common
equivalent share $0.83 $0.96 $1.48 $1.71
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