Exhibit 11
The Allstate Corporation and Subsidiaries
Computation of Earnings Per Common Share
(In millions, except for per share data) Twelve Months Ended December 31,
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1998 1997 1996
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Net Income $3,294 $3,105 $2,075
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Basic earnings per common share computation:
Weighted average number of common shares (1) 832.2 867.9 890.8
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Net income per share - basic $3.96 $3.58 $ 2.33
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Diluted earnings per common share computation:
Weighted average number of common shares (1) 832.2 867.9 890.8
Assumed exercise of dilutive stock options 4.4 4.9 5.6
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Adjusted weighted number of common shares outstanding 836.6 872.8 896.4
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Net income per share - diluted $3.94 $3.56 $2.31
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(1) Common shares held as treasury shares were 82 million, 501 million, and 17 million, at December 31, 1998, 1997
and 1996, respectively.
E-6