EXHIBIT 11
THE NEW YORK TIMES COMPANY
STATEMENTS OF COMPUTATION OF PRIMARY AND FULLY-DILUTED NET INCOME PER SHARE
(Dollars and shares in thousands, except per share data)
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QUARTER ENDED MARCH 31,
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1996 1995
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PRIMARY*
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Average shares outstanding 97,653 97,826
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Net Income $ 32,714 $ 27,359
Less cumulative preference stock dividends (24) (24)
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Total $ 32,690 $ 27,335
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Primary earnings per share $ 0.33 $ 0.28
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FULLY DILUTED
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Average shares outstanding 97,653 97,826
Net effect of dilutive stock options,
retirement units and put options (based on
the treasury stock method using the
quarter-end market price which is higher
than the average market price) 1,527 599
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Total fully-diluted average shares outstanding 99,180 98,425
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Net Income $ 32,714 $ 27,359
Less cumulative preference stock dividends (24) (24)
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Total $ 32,690 $ 27,335
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Fully-diluted earnings per share $ 0.33 $ 0.28
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* Common stock equivalents are excluded from primary earnings per share because
their impact on earnings is less that three percent in the aggregate.