EXHIBIT 11
IMATION CORP.
COMPUTATION OF EARNINGS PER COMMON AND COMMON EQUIVALENT SHARE
(In millions, except per share amounts)
(Unaudited)
Three months ended Nine months ended
September 30 September 30
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1996 1995 1996 1995
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PRIMARY:
Net income (loss) $ 11.8 $ (1.8) $ (19.9) $ 2.5
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Shares (1):
Weighted average number of shares
outstanding during the period 41.930 41.992 41.926 41.995
Weighted average number of shares
held by the ESOP not committed
to be released (1.189) -- (0.396) --
Shares issuable in connection with
stock options less shares assumed
purchasable from proceeds 0.104 -- -- --
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Total Shares 40.845 41.992 41.530 41.995
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Earnings (Loss) per Common and
Common Equivalent Share $ .29 $ (.04) $ (.48) $ .06
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FULLY DILUTED:
Net income (loss) $ 11.8 $ (1.8) $ (19.9) $ 2.5
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Shares (1):
Weighted average number of shares
outstanding during the period 41.930 41.992 41.926 41.995
Weighted average number of shares
held by the ESOP not committed
to be released (1.189) -- (0.396) --
Shares issuable in connection with
stock options less shares assumed
purchasable from proceeds 0.137 -- -- --
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Total Shares 40.878 41.992 41.530 41.995
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Earnings (Loss) per Common and
Common Equivalent Share $ .29 $ (.04) $ (.48) $ .06
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(1) The number of shares outstanding used in the computation of earnings
per share prior to July 1, 1996 was one-tenth of the average 3M shares
outstanding. For both primary and fully diluted earnings, assumed
conversion of options was not made in those periods with a loss as the
conversion would be anti-dilutive.