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,
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1994 1993 1992
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Income before extraordinary items and cumulative
effect of changes in accounting principles.............. $ 1,401.9 $ 1,481.6 $ 1,382.2
Tax benefit of dividends paid on shares held
by employee stock ownership plans...................... -- -- 14.8
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Income before extraordinary items and cumulative
effect of changes in accounting principles
applicable to common shareowners....................... 1,401.9 1,481.6 1,397.0
Extraordinary items...................................... (2,156.7) (58.4) (41.6)
Cumulative effect of changes in accounting
principles............................................. -- (19.8) --
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Net income (loss) applicable to common shareowners....... $ (754.8) $ 1,403.4 $ 1,355.4
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EARNINGS (LOSS) PER COMMON SHARE
Weighted average shares outstanding...................... 436,283,155 435,136,371 432,167,257
Incremental shares from assumed exercise of stock
options and payment of performance share awards........ 952,652 1,170,838 876,819
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Total shares............................................. 437,235,807 436,307,209 433,044,076
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Income before extraordinary items and cumulative
effect of changes in accounting principles............. $ 3.21 $ 3.39 $ 3.23
Extraordinary items...................................... (4.94) (.13) (.10)
Cumulative effect of changes in accounting principles.... -- (.04) --
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Net income (loss)........................................ $ (1.73) $ 3.22 $ 3.13
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FULLY DILUTED EARNINGS (LOSS) PER COMMON SHARE*
Weighted average shares outstanding...................... 436,283,155 435,136,371 432,167,257
Incremental shares from assumed exercise of stock
options and payment of performance share awards........ 1,007,218 1,298,288 1,027,069
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Total shares............................................. 437,290,373 436,434,659 433,194,326
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Income before extraordinary items and cumulative effect
of changes in accounting principles.................... $ 3.21 $ 3.39 $ 3.23
Extraordinary items...................................... (4.94) (.13) (.10)
Cumulative effect of changes in accounting principles.... -- (.04) --
------------ ------------ ------------
Net income (loss)........................................ $ (1.73) $ 3.22 $ 3.13
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*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%.