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EXHIBIT 11.1
SERVICE CORPORATION INTERNATIONAL
COMPUTATION OF EARNINGS PER SHARE
Three Months Ended Nine Months Ended
September 30, September 30,
1996 1995 1996 1995
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(Thousands, except per share amounts)
PRIMARY:
Net income ............................................ $ 57,395 $ 39,136 $191,542 $127,156
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Average number of common shares
outstanding ......................................... 235,622 194,085 235,273 192,615
Common stock equivalents applicable to options
outstanding resulting from application of the
"treasury stock method" using average stock price 6,253 3,009 5,570 2,055
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Average common and common equivalent shares
used in earnings per share .......................... 241,875 197,094 240,843 194,670
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Primary Earnings Per Common Share:
Net income .......................................... $ .24 $ .20 $ .80 $ .65
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FULLY DILUTED:
Net income ............................................ $ 57,395 $ 39,136 $191,542 $127,156
Add after tax interest expense applicable to
convertible debentures .............................. 2,007 2,252 5,892 9,702
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$ 59,402 $ 41,388 $197,434 $136,858
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Average number of common shares
outstanding ......................................... 235,622 194,085 235,273 192,616
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) ................................... 6,625 3,850 6,031 2,509
Assuming conversion of convertible debentures ......... 13,676 27,406 13,662 30,137
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Average shares used in fully diluted earnings per share 255,923 225,341 254,966 225,262
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Fully Diluted Earnings Per Common Share:
Net income .......................................... $ .23 $ .18 $ .77 $ .61
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