EXHIBIT 11
COLUMBIA/HCA HEALTHCARE CORPORATION
COMPUTATION OF EARNINGS PER COMMON
AND COMMON EQUIVALENT SHARE
FOR THE YEARS ENDED DECEMBER 31, 1995, 1994 AND 1993
(DOLLARS IN MILLIONS, EXCEPT PER SHARE AMOUNTS)
1995 1994 1993
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PRIMARY EARNINGS PER COMMON AND COMMON EQUIVALENT
SHARE:
Earnings:
Income from continuing operations................. $ 1,064 $ 929 $ 720
Income from operations of discontinued health plan
segment, net of income taxes..................... - - 16
Extraordinary charges on extinguishments of debt,
net of income tax benefits....................... (103) (115) (97)
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Net income.................................... $ 961 $ 814 $ 639
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Shares used in the computation (in thousands):
Weighted average common shares outstanding...... 443,605 423,225 405,564
Dilutive effect of common stock equivalents..... 5,109 6,070 7,472
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Shares used in computing earnings per common
and common equivalent share.................. 448,714 429,295 413,036
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Primary earnings per common and common equivalent
share:
Income from continuing operations................. $ 2.37 $ 2.16 $ 1.75
Income from operations of discontinued health plan
segment.......................................... - - .04
Extraordinary charges on extinguishments of debt.. (.23) (.27) (.24)
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Net income.................................... $ 2.14 $ 1.89 $ 1.55
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FULLY DILUTED EARNINGS PER COMMON AND COMMON
EQUIVALENT SHARE:
Earnings:
Income applicable to common stock................. $ 1,064 $ 929 $ 720
Interest addback on convertible securities, net of
income taxes..................................... - 2 3
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Adjusted income applicable to common stock...... 1,064 931 723
Income from operations of discontinued health
plan segment, net of income taxes................ - - 16
Extraordinary charges on extinguishments of debt,
net of income tax benefits....................... (103) (115) (97)
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Net income.................................... $ 961 $ 816 $ 642
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Shares used in the computation (in thousands):
Weighted average common shares outstanding...... 443,605 423,225 405,564
Dilutive effect of common stock equivalents and
other
dilutive securities............................ 5,421 7,510 10,624
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Shares used in computing earnings per common
and common equivalent share.................. 449,026 430,735 416,188
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Fully diluted earnings per common and common
equivalent share:
Income from continuing operations................. $ 2.37 $ 2.16 $ 1.74
Income from operations of discontinued health
plan segment..................................... - - .04
Extraordinary charges on extinguishments of debt.. (.23) (.27) (.23)
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Net income.................................... $ 2.14 $ 1.89 $ 1.55
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