Exhibit No. 11(b) Computation for Fully Diluted 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 ------------------- ----------------- 1996 1995 1996 1995 ---- ---- ---- ---- Common Stock and Common Stock Equivalents - ----------------------------------------- Average number of common shares outstanding including shares issuable under stock options 37.2 37.6 37.3 37.6 Average number of common shares issuable under the Employee Stock Ownership Plan 5.1 5.4 5.2 5.4 ------- ------- ------- -------- Average number of common and common equivalent shares outstanding 42.3 43.0 42.5 43.0 ======= ======= ======= ======== Pro Forma Adjustment to Earnings from ------------------------------------ Continuing Businesses --------------------- Earnings from continuing businesses before pro forma adjustments $30.6 $47.4 $66.9 $73.9 Less: Increased contribution to the Employee Stock Ownership Plan assuming conversion of preferred shares to common 1.7 1.9 3.2 3.7 Net reduction in tax benefits assuming conversion of the Employee Stock Ownership Plan preferred shares to common .3 .2 .6 .5 ------- ------- ------- -------- Pro forma earnings from continuing businesses $28.6 $45.3 $63.1 $69.7 ======= ======= ======= ======== Fully diluted earnings per share from continuing businesses $ .68 $ 1.05 $ 1.48 $ 1.62 ======= ======= ======= ======== Pro Forma Adjustment to Net Earnings - ------------------------------------ Net earnings as reported $30.6 $52.7 $66.9 $87.1 Less: Increased contribution to the Employee Stock Ownership Plan assuming conversion of preferred shares to common 1.7 1.9 3.2 3.7 Net reduction in tax benefits assuming conversion of the Employee Stock Ownership Plan preferred shares to common .3 .2 .6 .5 ------- ------- ------- -------- Pro forma net earnings $28.6 $50.6 $63.1 $82.9 ======= ======= ======= ======== Fully diluted net earnings per share $ .68 $ 1.18 $ 1.48 $ 1.93 ======= ======= ======= ========