1
EXHIBIT 11
Primary
[LCI INTERNATIONAL LOGO]
Computation of Earnings per Common Share
Primary
(In millions, except per share data)
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1996 1995 1994
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INCOME ON COMMON STOCK
===============================
Net Income $ 74.8 $ 50.8 $ 6.8
Preferred Dividends (2.8) (5.7) (5.8)
-------------------------------------
Income on Common Stock $ 72.0 $ 45.1 $ 1.0
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SHARES OUTSTANDING
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Weighted Average Number of 71.7 60.8 59.2
Common Shares Outstanding
Common Shares Issuable Upon
the Assumed Exercise of Stock 14.3 12.9 10.4
Options and Stock Warrants
Common Shares Repurchased
Through Treasury Stock Method
Upon the Assumed Exercise of Stock
Options and Stock Warrants (3.9) (4.8) (4.1)
Assumed Conversion of
Convertible Preferred Stock 5.2 12.1 -
---------------------------------------
Weighted Average Number of
Common Shares Outstanding 87.3 81.0 65.5
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EARNINGS PER SHARE
===============================
NET INCOME PER COMMON SHARE $ 0.86 $ 0.63 $ 0.02
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2
EXHIBIT 11
Fully Diluted
[LCI INTERNATIONAL LOGO]
Computation of Earnings per Common Share
Fully Diluted
(In millions, except per share data)
------------------------ -------------
1996 1995 1994
------------------------ -------------
INCOME ON COMMON STOCK
===============================
Net Income $ 74.8 $ 50.8 $ 6.8
Preferred Dividends (2.8) (5.7) (5.8)
-------------------------------------
Income on Common Stock $ 72.0 $ 45.1 $ 1.0
=====================================
SHARES OUTSTANDING
===============================
Weighted Average Number of 71.7 60.8 59.2
Common Shares Outstanding
Common Shares Issuable Upon
the Assumed Exercise of Stock 14.3 12.9 10.8
Options and Stock Warrants
Common Shares Repurchased
Through Treasury Stock Method
Upon the Assumed Exercise of Stock
Options and Stock Warrants (3.9) (3.7) (3.3)
Assumed Conversion of
Convertible Preferred Stock 5.2 12.1 -
---------------------------------------
Weighted Average Number of
Common Shares Outstanding 87.3 82.1 66.7
=======================================
EARNINGS PER SHARE
===============================
NET INCOME PER COMMON SHARE $ 0.86 $ 0.62 $ 0.02
=======================================