EXHIBIT 11
CASE CORPORATION AND CONSOLIDATED SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE OF COMMON STOCK
(in millions, except share amounts)
Nine Months
Three Months Ended
Ended September
September 30, 30,
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1999 1998 1999 1998
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Computations for Statements of Income
Basic
Net income (loss)............................... $ (3) $ 63 $ (15) $ 258
Less: Preferred stock dividends................. -- (2) (3) (5)
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Net income (loss) after preferred stock
dividends...................................... $ (3) $ 61 $ (18) $ 253
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Weighted--average shares outstanding............ 77.4 72.6 74.5 73.4
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Basic earnings (loss) per share................. $ (0.04) $0.84 $(0.24) $3.44
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Diluted
Net income (loss)............................... $ (3) $ 63 $ (15) $ 258
Less: Antidilutive preferred stock dividends.... -- N/A (3) N/A
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Net income (loss) after antidilutive preferred
stock dividends................................ $ (3) $ 63 $ (18) $ 258
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Weighted--average shares outstanding--Basic..... 77.4 72.6 74.5 73.4
Effect of Dilutive Securities (when dilutive):
Convertible preferred stock................... -- 3.5 -- 3.5
Stock options................................. -- 0.5 -- 0.9
Restricted stock.............................. -- 0.1 -- 0.2
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Weighted--average shares outstanding--Diluted... 77.4 76.7 74.5 78.0
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Diluted earnings (loss) per share............... $ (0.04) $0.82 $(0.24) $3.30
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