EXHIBIT 11
Form 10-K for 1995
File No. 1-11237
AT&T CAPITAL CORPORATION AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
(Thousands except per share data)
Year Ended December 31, 1995 1994 1993 1992 1991
- ---------------------------------------------------------------------------
Income before cumulative
effect of accounting
change $127,555 $100,336 $ 71,510 $ 73,572 $ 54,199
Cumulative effect on
prior years of
accounting change - - (2,914) - -
- ---------------------------------------------------------------------------
Net income $127,555 $100,336 $ 68,596 $ 73,572 $ 54,199
===========================================================================
Primary
Average shares
outstanding* 46,948 46,876 42,969 40,250 40,250
Net effect of dilutive
stock options - based
on the treasury
method using average
market price 234 30 33 - -
- ---------------------------------------------------------------------------
Total 47,182 46,906 43,002 40,250 40,250
===========================================================================
Per share amounts:
Income before cumulative
effect of accounting
change $ 2.70 $ 2.14 $ 1.67 $ 1.83 $ 1.35
Cumulative effect on
prior years of
accounting change - - (.07) - -
- ---------------------------------------------------------------------------
Net income $ 2.70 $ 2.14 $ 1.60 $ 1.83 $ 1.35
===========================================================================
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EXHIBIT 11
Form 10-K for 1995
File No. 1-11237
AT&T CAPITAL CORPORATION AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
(Thousands except per share data)
(Continued)
Year Ended December 31, 1995 1994 1993 1992 1991
- ---------------------------------------------------------------------------
Fully Diluted**
Average shares
outstanding* 46,948 46,876 42,969 40,250 40,250
Net effect of dilutive
stock options - based on the
treasury method using the
greater of the average market
price or year end price 507 30 33 - -
- ---------------------------------------------------------------------------
Total 47,455 46,906 43,002 40,250 40,250
===========================================================================
Per share amounts:
Income before cumulative
effect of accounting
change $ 2.69 $ 2.14 $ 1.67 $ 1.83 $ 1.35
Cumulative effect on
prior years of
accounting change - - (.07) - -
- ---------------------------------------------------------------------------
Net income $ 2.69 $ 2.14 $ 1.60 $ 1.83 $ 1.35
===========================================================================
* 1992 and 1991 shares are restated to give effect to a 402,500-for-one stock
reclassification.
** This calculation is submitted in accordance with Regulation S-K item 601 (b)
11 although not required by footnote 2 to paragraph 14 of APB Opinion No. 15
because it results in dilution of less than 3 %.
2