EXHIBIT 11.1
SunTrust Banks, Inc.
Statement re: Computation of Per Share Earnings
(In thousands, except per share data)
Year Ended December 31
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2001 2000 1999 1998 1997 1996
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Basic
Income before extraordinary gain $ 1,369,219 $ 1,294,100 $ 1,123,952 $ 971,017 $ 975,923 $ 858,950
Extraordinary gain, net of taxes 6,318 - 202,648 - - -
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Net income $ 1,375,537 $ 1,294,100 $ 1,326,600 $ 971,017 $ 975,923 $ 858,950
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Average basic common shares 287,702 297,834 317,079 314,908 316,436 326,502
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Income before extraordinary gain $ 4.76 $ 4.35 $ 3.54 $ 3.08 $ 3.08 $ 2.63
Extraordinary gain, net of taxes 0.02 - 0.64 - - -
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Earnings per common share - basic $ 4.78 $ 4.35 $ 4.18 $ 3.08 $ 3.08 $ 2.63
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Diluted
Income before extraordinary gain $ 1,369,219 $ 1,294,100 $ 1,123,952 $ 971,017 $ 975,923 $ 858,950
Extraordinary gain, net of taxes 6,318 - 202,648 - - -
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Net income $ 1,375,537 $ 1,294,100 $ 1,326,600 $ 971,017 $ 975,923 $ 858,950
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Average common shares outstanding 287,702 297,834 317,079 314,908 316,436 326,502
Incremental shares outstanding (1) 3,882 3,122 4,095 4,803 4,496 4,540
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Average diluted common shares 291,584 300,956 321,174 319,711 320,932 331,042
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Income before extraordinary gain $ 4.70 $ 4.30 $ 3.50 $ 3.04 $ 3.04 $ 2.59
Extraordinary gain, net of taxes 0.02 - 0.63 - - -
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Earnings per common share - diluted $ 4.72 $ 4.30 $ 4.13 $ 3.04 $ 3.04 $ 2.59
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(1) Includes the incremental effect of stock options and restricted stock
outstanding computed under the treasury stock method.