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EXHIBIT 11, ANNUAL REPORT ON FORM 10-K
FOR THE YEAR ENDED DECEMBER 31, 1996
COMMISSION FILE NUMBER 1-3671
GENERAL DYNAMICS CORPORATION
STATEMENT RE COMPUTATION OF PER SHARE EARNINGS
(DOLLARS IN MILLIONS, EXCEPT PER SHARE DATA)
Year Ended December 31
1996 1995 1994
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NET EARNINGS:
Continuing Operations $ 270 $ 247 $ 223
Discontinued Operations:
Earnings from operations - 55 -
Gain on disposal - 19 15
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$ 270 $ 321 $ 238
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Weighted average common shares outstanding 63,171,625 62,992,558 63,068,328
NET EARNINGS PER SHARE - PRIMARY:
Continuing Operations $ 4.26 $ 3.91 $ 3.51
Discontinued Operations:
Earnings from operations - .87 -
Gain on disposal - .30 .24
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$ 4.26 $ 5.08 $ 3.75
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Common shares from above 63,171,625 62,992,558 63,068,328
Assumed exercise of options (treasury stock method) 258,542 226,734 355,793
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63,430,167 63,219,292 63,424,121
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NET EARNINGS PER SHARE - FULLY DILUTED:
Continuing Operations $ 4.25 $ 3.90 $ 3.51
Discontinued Operations:
Earnings from operations - .87 -
Gain on disposal - .30 .24
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$ 4.25 $ 5.07 $ 3.75
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Common shares from above 63,171,625 62,992,558 63,068,328
Assumed exercise of options (treasury stock method) 363,462 371,590 357,447
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63,535,087 63,364,148 63,425,775
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