Exhibit 11.1
SunGard Data Systems Inc.
Statement Re Computation of Per Share Earnings/(1)/
(in thousands, except per share amounts)
Year Ended December 31,
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1995 1994 1993
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PRIMARY:
Average common shares outstanding... 38,812 37,670 34,988
Dilutive stock options, net
of treasury shares............... 824 828 928
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Adjusted common shares outstanding.. 39,636 38,498 35,916
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Net income.......................... $48,672 $43,087 $38,474
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Net income per common share......... $ 1.23 $ 1.12 $ 1.07
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FULLY DILUTED:
Average common shares outstanding... 38,812 37,670 34,988
Assumed conversion of 8 1/4%
subordinated debentures.......... -- -- 2,412
Dilutive stock options, net
of treasury shares............... 856 832 952
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Adjusted common shares outstanding.. 39,668 38,502 38,352
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Net income.......................... $48,672 $43,087 $38,474
Assumed interest expense savings
on subordinated debentures,
net of related income taxes...... -- -- 1,565
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Adjusted net income................. $48,672 $43,087 $40,039
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Net income per common share......... $ 1.23 $ 1.12 $ 1.04
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(1) All shares and per share amounts have been adjusted for a July 1995 two-
for-one stock split.