EXHIBIT 11
COLUMBIA/HCA HEALTHCARE CORPORATION
COMPUTATION OF EARNINGS PER COMMON AND COMMON EQUIVALENT SHARE
FOR THE QUARTERS AND NINE MONTHS ENDED SEPTEMBER 30, 1995 AND 1994
(DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS)
QUARTER NINE MONTHS
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1995 1994 1995 1994
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PRIMARY EARNINGS PER COMMON AND COMMON
EQUIVALENT SHARE:
Earnings:
Income before extraordinary item......... $ 274 $ 213 $ 710 $ 643
Extraordinary loss on extinguishment of
debt, net of income tax benefit......... (7) (23) (103) (115)
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Net income............................. $ 267 $ 190 $ 607 $ 528
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Shares used in the computation (000):
Weighted average common shares
outstanding............................. 443,941 427,306 443,066 417,030
Dilutive effect of common stock
equivalents............................. 5,499 5,220 5,119 6,372
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Shares used in earnings per common and
common equivalent share computation... 449,440 432,526 448,185 423,402
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Primary earnings per common and common
equivalent share:
Income before extraordinary item......... $ .61 $ .49 $ 1.58 $ 1.52
Extraordinary loss on extinguishment of
debt.................................... (.02) (.05) (.23) (.27)
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Net income............................. $ .59 $ .44 $ 1.35 $ 1.25
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FULLY DILUTED EARNINGS PER COMMON AND
COMMON EQUIVALENT SHARE:
Earnings:
Income before extraordinary item......... $ 274 $ 213 $ 710 $ 643
Interest add-back on convertible
securities, net of income taxes......... - 1 - 2
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Income applicable to common stock........ 274 214 710 645
Extraordinary loss on extinguishment of
debt, net of income tax benefit......... (7) (23) (103) (115)
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Net income............................. $ 267 $ 191 $ 607 $ 530
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Shares used in the computation (000):
Weighted average common shares
outstanding............................. 443,941 427,306 443,066 417,030
Dilutive effect of common stock
equivalents and other dilutive
securities.............................. 5,677 6,417 5,502 7,590
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Shares used in earnings per common and
common equivalent share computation... 449,618 433,723 448,568 424,620
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Fully diluted earnings per common and
common equivalent share:
Income before extraordinary item......... $ .61 $ .49 $ 1.58 $ 1.52
Extraordinary loss on extinguishment of
debt.................................... (.02) (.05) (.23) (.27)
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Net income............................. $ .59 $ .44 $ 1.35 $ 1.25
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