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Exhibit 11.1
SERVICE CORPORATION INTERNATIONAL
COMPUTATION OF EARNINGS PER SHARE
Three Months Ended Six Months Ended
June 30, June 30,
1996 1995 1996 1995
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(Thousands, except per share amounts)
PRIMARY:
Net income . . . . . . . . . . . . . . . . . . . . . . $ 62,250 $ 40,640 $ 134,147 $ 88,020
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Average number of common shares outstanding . . . . . 117,652 96,131 117,549 95,941
Common stock equivalents applicable to options
outstanding resulting from application of the
"treasury stock method" using average stock
price . . . . . . . . . . . . . . . . . . . . . . 2,904 856 2,598 788
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Average common and common equivalent shares
used in earnings per share . . . . . . . . . . . . . 120,556 96,987 120,147 96,729
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Primary Earnings Per Common Share:
Net income . . . . . . . . . . . . . . . . . . . . . $ .52 $ .42 $ 1.12 $ .91
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FULLY DILUTED:
Net income . . . . . . . . . . . . . . . . . . . . . . $ 62,250 $ 40,640 $ 134,147 $ 88,020
Add after tax interest expense applicable to
convertible debentures . . . . . . . . . . . . . . . 1,953 3,711 3,894 7,451
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$ 64,203 $ 44,351 $ 138,041 $ 95,471
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Average number of common shares
outstanding . . . . . . . . . . . . . . . . . . . . 117,652 96,131 117,549 95,941
Common stock equivalents applicable to options
outstanding resulting from application of the
"treasury stock method" using end of period
stock price (if greater than average stock
price for period) 3,162 1,117 2,867 919
Assuming conversion of convertible debentures . . . . . 6,841 15,708 6,838 15,751
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Average shares used in fully diluted earnings per
share . . . . . . . . . . . . . . . . . . . . . . 127,655 112,956 127,254 112,611
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Fully Diluted Earnings Per Common Share:
Net income . . . . . . . . . . . . . . . . . . $ .50 $ .39 $ 1.08 $ .85
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