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EXHIBIT 11
THE CHASE MANHATTAN CORPORATION and Subsidiaries
Computation of net income per share
Net income for basic and diluted EPS is computed by subtracting from the
applicable earnings the dividend requirements on preferred stock to arrive at
earnings applicable to common stock. Basic EPS is computed by dividing net
income available to common shares outstanding by the weighted-average number of
common shares outstanding for the period. Diluted EPS is computed using the same
method as basic EPS, but reflects the potential dilution that could occur if
securities or other contracts to issue common stock were exercised or converted
into common stock. For a further discussion of Chase's earnings per share
computation, see Note Ten of Chase's 1997 Annual Report.
(in millions, except per share amounts) Three Months Ended
March 31,
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EARNINGS PER SHARE 1998 1997
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Basic
Earnings:
Net Income $ 725 $ 927
Less: Preferred Stock Dividend Requirements 34 55
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Net Income Applicable to Common Stock $ 691 $ 872
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Shares:
Weighted- Average Basic Shares Outstanding 422.4 430.4
Basic Earnings Per Share:
Net Income $ 1.64 $ 2.02
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Diluted
Earnings:
Net Income Applicable to Common Stock $ 691 $ 872
Shares:
Weighted-Average Basic Shares Outstanding 422.4 430.4
Additional Shares Issuable Upon Exercise of Stock Options
for Dilutive Effect 11.3 11.6
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Weighted-Average Diluted Shares Outstanding 433.7 442.0
Diluted Earnings Per Share:
Net Income $ 1.59 $ 1.97
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