EXHIBIT 11
To Cyprus Amax Minerals Company's
Quarterly Report on Form 10-Q
For the Quarter Ended March 31, 1994
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EXHIBIT 11
CYPRUS AMAX MINERALS COMPANY & SUBSIDIARIES
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Computation of Per Share Earnings
(In millions except per share data)
Three Months
Ended March 31
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1994 1993
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Net Income $ 28 $ 12
Preferred Stock Dividends (5) --
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Income Applicable to Common Shares 23 12
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Average Common Shares Outstanding 92.1 47.4
Common Stock Equivalents -- Options .4 .5
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Weighted Average Primary Shares Outstanding 92.5 47.9
Conversion of Series B Preferred Stock 9.6 --
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Fully Diluted Average Common Shares Outstanding 102.1 47.9
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Primary Earnings per Share .25 .24
Fully Diluted Earnings per Share .25/(1)/ .24
/(1)/Fully diluted earnings per share were anti-dilutive.
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