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 JUNE 30, SIX MONTHS ENDED JUNE 30,
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1996 1995 1996 1995
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PRIMARY*
Average shares outstanding 97,754 96,781 97,703 97,304
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Net Income $ 46,812 $ 43,256 $ 79,562 $ 70,615
Less cumulative preference stock dividends (24) (24) (48) (48)
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Total $ 46,788 $ 43,232 $ 79,514 $ 70,567
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Primary earnings per share $ 0.48 $ 0.45 $ 0.81 $ 0.73
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FULLY DILUTED
Average shares outstanding 97,754 96,781 97,703 97,304
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) 2,270 648 1,899 623
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Total fully-diluted average shares outstanding 100,024 97,429 99,602 97,927
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Net Income $ 46,812 $ 43,256 $ 79,562 $ 70,615
Less cumulative preference stock dividends (24) (24) (48) (48)
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Total $ 46,788 $ 43,232 $ 79,514 $ 70,567
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Fully-diluted earnings per share $ 0.47 $ 0.44 $ 0.80 $ 0.72
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* Common stock equivalents are excluded from primary earnings per share because
their impact on earnings is less than three percent in the aggregate.