1
KMART CORPORATION AND SUBSIDIARY COMPANIES
EXHIBIT 11 - INFORMATION ON COMPUTATION OF PER SHARE EARNINGS
Fiscal Year Ended
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January 26, January 27, January 29, January 30, January 31,
($ Millions except per share amounts) 1994 1993 1992 1991 1990
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I. Earnings per common share assuming no dilution:
(a) Net income (loss) (1) $ (974) $ 941 $ 859 $ 756 $ 323
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Weighted average common shares outstanding 408.1 405.7 401.5 399.6 399.5
Weighted average Series A conversion
preferred stock outstanding 46.0 46.0 20.1 - -
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(b) Weighted average number of shares
outstanding 454.1 451.7 421.6 399.6 399.5
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Earnings (loss) per common share assuming
no dilution: (a)/(b) $ ($2.14) $ $2.08 $ $2.04 $ $1.89 $ $0.81
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(1) Net income (loss) includes an after tax provision of $862 million or
$1.89 per share and $422 million or $1.05 per share for fiscal years
1993 and 1989, respectively, for store restructuring and other charges.
2
KMART CORPORATION AND SUBSIDIARY COMPANIES
EXHIBIT 11 - INFORMATION ON COMPUTATION OF PER SHARE EARNINGS
Fiscal Year Ended
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January 26, January 27, January 29, January 30, January 31,
($ Millions except per share amounts) 1994 1993 1992 1991 1990
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II. Earnings per common and common equivalent share:
(c) Net income (loss) (1) $ (974) $ 941 $ 859 $ 756 $ 323
Less Series B convertible
preferred dividend payment (9) (3)
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Adjusted net income (loss) $ (983) $ 938 $ 859 $ 756 $ 323
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Weighted average common shares outstanding 408.1 405.7 401.5 399.6 399.5
Weighted average Series A conversion preferred
stock outstanding 46.0 46.0 20.1 - -
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Weighted average number of shares outstanding 454.1 451.7 421.6 399.6 399.5
Stock Options --
Shares assumed issued 16.1 17.2 15.5 2.6 8.4
Less -- Shares assumed repurchased 13.5 13.3 12.7 2.0 6.5
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2.6 3.9 2.8 0.6 1.9
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(d) Applicable shares, as adjusted 456.7 455.6 424.4 400.2 401.4
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Earnings (loss) per common and common
equivalent shares: (c)/(d) $ (2.15) $ 2.06 $ 2.02 $ 1.89 $ 0.80
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Percent dilution of earnings (loss)per common
and common equivalent share: 0.5% 0.9% 0.7% 0.2% 0.6%
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(1) Net income (loss) includes an after tax provision of $862 million or
$1.89 per share and $422 million or $1.05 per share for fiscal years
1993 and 1989, respectively, for store restructuring and other charges.
3
KMART CORPORATION AND SUBSIDIARY COMPANIES
EXHIBIT 11 - INFORMATION ON COMPUTATION OF PER SHARE EARNINGS
Fiscal Year Ended
-------------------------------------------------------------------
January 26, January 27, January 29, January 30, January 31,
($ Millions except per share amounts) 1994 1993 1992 1991 1990
----------- ----------- ----------- ----------- -----------
III. Earnings per common and common equivalent share:
(e) Net income (loss)(1) $ (974) $ 941 $ 859 $ 756 $ 323
----------- ----------- ----------- ----------- -----------
----------- ----------- ----------- ----------- -----------
Weighted average common shares outstanding 408.1 405.7 401.5 399.6 399.5
Weighted average Series A conversion preferred
stock outstanding 46.0 46.0 20.1 -- --
Weighted average Series B convertible preferred
stock outstanding 8.0 1.7 -- -- --
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Weighted average number of shares outstanding 462.1 453.4 421.6 399.6 399.5
Stock Options -
Shares assumed issued 16.6 18.1 19.2 2.6 8.2
Less - Shares assumed repurchased 14.5 13.7 14.6 2.0 6.3
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2.1 4.4 4.6 0.6 1.9
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(f) Applicable shares, as adjusted 464.2 457.8 426.2 400.2 401.4
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Earnings (loss) per common and common equivalent
shares assuming full dilution: (e)/(f) (2) $ (2.10) $ 2.06 $ 2.02 $ 1.89 $ 0.80
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(1) Net income (loss) includes an after tax provision of $862 million or
$1.89 per share and $422 million or $1.05 per share for fiscal
years 1993 and 1989, respectively, for store restructuring and other
charges.
(2) This calculation is submitted in accordance with Regulation S-K item
601(b)(11) although it is contrary to paragraph 40 of APB Opinion No. 15
because it produces an anti-dilutive result.