EXHIBIT 11 COMPUTATION OF PRIMARY AND FULLY DILUTED NET INCOME PER COMMON SHARE THREE MONTHS ENDED NINE MONTHS ENDED SEPTEMBER 30 SEPTEMBER 30 (DOLLARS IN MILLIONS, EXCEPT PER SHARE DATA) 1996 1995 1996 1995 PRIMARY: Average shares outstanding 135,928,744 131,401,366 136,079,521 133,014,010 Net effect of the assumed purchase of stock under the stock option and stock purchase plans--based on the treasury stock method using average market price 1,751,045 2,247,576 2,042,749 1,993,509 137,679,789 133,648,942 138,122,270 135,007,519 Net income $137.5 $145.7 $568.4 $417.4 Preferred dividends (1.6) (1.8) (4.9) (5.6) Net income applicable to common equity $135.9 $143.9 $563.5 $411.8 Net income per common share $ .99 $1.08 $4.08 $3.05 FULLY DILUTED: * Average shares outstanding 135,928,744 131,401,366 136,079,521 133,014,010 Net effect of the assumed purchase of stock under the stock option and stock purchase plans--based on the treasury stock method using average market price or period-end market price, whichever is higher 1,971,983 2,605,311 2,425,883 2,747,842 Assumed conversion of Series 1991A Preferred Stock 3,032,761 3,616,512 3,193,986 3,616,512 140,933,488 137,623,189 141,699,390 139,378,364 Net income $137.5 $145.7 $568.4 $417.4 Preferred dividends, excluding 1991A Preferred Stock -- -- -- -- Net income applicable to common equity $137.5 $145.7 $568.4 $417.4 Net income per common share $ .98 $1.06 $4.01 $2.99 *This calculation is submitted in accordance with Regulation S-K item 601(b)(11) although not required by footnote 2 to paragraph 17 of APB Opinion No. 15 because it results in dilution of less than 3%.