Exhibit 11
to
Form 10-Q for the Quarterly
Period Ended June 30, 1994
CINCINNATI BELL INC.
COMPUTATION OF EARNINGS PER COMMON SHARE
(Dollars in thousands, except per share amounts; shares in thousands)
For the Three Months For the Six Months
Ended June 30, Ended June 30,
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1994 1993 1994 1993
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Income before cumulative effect of accounting change $18,720 $13,500 $34,366 $34,327
Cumulative effect of accounting change . . . . . . . - - (2,925) -
Net Income . . . . . . . . . . . . . . . . . . . . . 18,720 13,500 31,441 34,327
Preferred dividend requirements . . . . . . . . . . - 1,088 - 2,175
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Income applicable to common shares . . . . . . . . . $18,720 $12,412 $31,441 $32,152
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Weighted average number of common shares
outstanding . . . . . . . . . . . . . . . . . . . . . 65,311 61,711 65,197 61,776
Common share conversions applicable to common
share options . . . . . . . . . . . . . . . . . . . . 8 148 8 148
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Total number of shares for computing primary
earnings per common share . . . . . . . . . . . . . 65,319 61,859 65,205 61,924
Average contingent issues of common shares from
convertible preferred shares . . . . . . . . . . . . - 3,158 - 3,158
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Total number of shares for computing fully diluted
earnings per common share . . . . . . . . . . . . . 65,319 65,017 65,205 65,082
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EARNINGS PER COMMON SHARE
As reported
Income before accounting change . . . . . . . . . . $ .28 $ .20 $ .52 $ .52
Cumulative effect of accounting change - - (.04) -
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Net income . . . . . . . . . . . . . . . . . . . . . $ .28 $ .20 $ .48 $ .52
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Primary
Income before accounting change . . . . . . . . . . $ .28 $ .20 $ .52 $ .52
Cumulative effect of accounting change . . . . . . . - - (.04) -
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Net income . . . . . . . . . . . . . . . . . . . . . $ .28 $ .20 $ .48 $ .52
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Fully Diluted
Income before accounting change . . . . . . . . . . $ .28 $ .20 $ .52 $ .53
Cumulative effect of accounting change . . . . . . . - - (.04) -
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Net income . . . . . . . . . . . . . . . . . . . . . $ .28 $ .20 $ .48 $ .53
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Earnings per common share for the six months ended June 30, 1994 and 1993
as reported in the Consolidated Statements of Income were based on the
weighted average number of common shares outstanding for the respective
periods. Primary and fully diluted earnings per common share were not
shown in the Consolidated Statements of Income as they differ from the
reported earnings per common share by less than three percent or are anti-
dilutive.