Exhibit 11
File No. 1-8606
BELL ATLANTIC CORPORATION AND SUBSIDIARIES
Computation of Per Common Share Earnings
(Dollars in Millions, Except Per Share Amounts)
Years Ended December 31,
---------------------------------------------
1993 1992 1991
------------ ------------ ------------
Income before extraordinary
item and cumulative effect
of changes in accounting
principles................... $ 1,481.6 $ 1,382.2 $ 1,229.9
Tax benefit of dividends paid
on shares held by employee
stock ownership plans........ -- 14.8 14.4
------------ ------------ ------------
Income before extraordinary
item and cumulative effect
of changes in accounting
principles applicable to
common shareowners........... 1,481.6 1,397.0 1,244.3
Extraordinary item............ (58.4) (41.6) --
Cumulative effect of changes
in accounting principles..... (19.8) -- (1,554.3)
------------ ------------ ------------
Net income (loss) applicable
to common shareowners........ $ 1,403.4 $ 1,355.4 $ (310.0)
============ ============ ============
Earnings (Loss) Per Common
Share
Weighted average shares
outstanding.................. 435,136,371 432,167,257 428,248,344
Incremental shares from
assumed exercise of stock
options and payment of
performance share awards..... 1,170,838 876,819 841,531
------------ ------------ ------------
Total shares.................. 436,307,209 433,044,076 429,089,875
============ ============ ============
Income before extraordinary
item and cumulative effect
of changes in accounting
principles................... $ 3.39 $ 3.23 $ 2.91
Extraordinary item............ (.13) (.10) --
Cumulative effect of changes
in accounting principles..... (.04) -- (3.63)
------------ ------------ ------------
Net income (loss)............. $ 3.22 $ 3.13 $ (.72)
============ ============ ============
Fully Diluted Earnings (Loss)
Per Common Share*
Weighted average shares
outstanding.................. 435,136,371 432,167,257 428,248,344
Incremental shares from
assumed exercise of stock
options and payment of
performance share awards..... 1,298,288 1,027,069 1,082,533
------------ ------------ ------------
Total shares.................. 436,434,659 433,194,326 429,330,877
============ ============ ============
Income before extraordinary
item and cumulative effect
of changes in accounting
principles................... $ 3.39 $ 3.23 $ 2.91
Extraordinary item............ (.13) (.10) --
Cumulative effect of changes
in accounting principles..... (.04) -- (3.63)
------------ ------------ ------------
Net income (loss)............. $ 3.22 $ 3.13 $ (.72)
============ ============ ============
*Fully diluted earnings per share calculation is presented in accordance with
Regulation S-K item 601(b)(11) although not required by footnote 2 to paragraph
14 of Accounting Principles Board Opinion No. 15 because it results in dilution
of less than 3%.