Exhibit No. 11(a)
COMPUTATION FOR PRIMARY EARNINGS PER SHARE
FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 1996 AND 1995
(AMOUNTS IN MILLIONS EXCEPT FOR PER-SHARE DATA)
UNAUDITED
THREE MONTHS ENDED Six Months Ended
JUNE 30 June 30
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1996 1995 1996 1995
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Common Stock and Common Stock
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Equivalents
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Average number of common shares
outstanding including shares
issuable under stock options 37.2 37.6 37.3 37.6
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Earnings Per Share from Continuing
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Businesses
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Earnings from continuing businesses $30.6 $47.4 $66.9 $73.9
Less:
Dividend requirement on Series A
convertible preferred stock 4.4 4.7 8.8 9.4
Plus:
Tax benefit on dividends paid on
unallocated preferred shares 1.0 1.2 2.0 2.3
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Earnings from continuing businesses $27.2 $43.9 $60.1 $66.8
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Earnings from continuing businesses
per share of common stock $ .73 $ 1.17 $ 1.61 $ 1.78
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Net Earnings Per Share
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Net earnings $30.6 $52.7 $66.9 $87.1
Less:
Dividend requirement on Series A
convertible preferred stock 4.4 4.7 8.8 9.4
Plus:
Tax benefit on dividends
applicable to unallocated
preferred shares 1.0 1.2 2.0 2.3
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Net earnings applicable to common
stock $27.2 $49.2 $60.1 $80.0
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Net earnings per share of common
stock $ .73 $ 1.31 $ 1.61 $ 2.13
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