EXHIBIT 11
PFIZER INC. AND SUBSIDIARY COMPANIES
COMPUTATION OF EARNINGS PER COMMON SHARE
(Unaudited)
Year Ended December 31,
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1996 1995 1994
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(millions, except per share data)
Earnings:
Income from continuing operations........................................................ $1,929 $1,554 $1,276
Discontinued operations.................................................................. - 19 22
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Net income............................................................................... $1,929 $1,573 $1,298
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Primary:
Weighted average shares:
Weighted average number of common shares outstanding................................ 624 615 611
Common share equivalents (a)........................................................ 20 15 9
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Weighted average number of common shares and common share equivalents............... 644 630 620
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Earnings per common share:
Income from continuing operations................................................... $2.99 $2.47 $2.05
Discontinued operations............................................................. - .03 .04
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Net income per common share......................................................... $2.99 $2.50 $2.09
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Fully Diluted:
Weighted average shares:
Weighted average number of common shares outstanding................................ 624 615 611
Common share equivalents and other dilutive securities.............................. 21 16 10
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Weighted average number of common shares and common share equivalents............... 645 631 621
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Earnings per common share:
Income from continuing operations................................................... $2.99 $2.46 $2.05
Discontinued operations............................................................. - .03 .04
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Net income per common share......................................................... $2.99 $2.49 $2.09
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(a) Common share equivalents applicable to stock options under the Stock
and Incentive Plan.