1
EXHIBIT 11
INTERNATIONAL FAMILY ENTERTAINMENT, INC.
COMPUTATIONS OF EARNINGS PER COMMON SHARE
YEARS ENDED DECEMBER 31
----------------------------------------
1996 1995 1994
----------- ------------ -----------
Average number of outstanding shares of Class A Common
Stock................................................ 5,000,000 5,000,000 5,027,397
Average number of outstanding shares of Class B Common
Stock................................................ 32,822,208 35,424,475 36,792,675
Average number of outstanding shares of Class C Common
Stock................................................ 7,088,732 330,160 --
Common stock equivalents:
Convertible Notes, if assumed conversion is
dilutive.......................................... 2,587,500 -- --
Effect of stock options, if dilutive................. 523,887 -- --
----------- ------------ -----------
Primary and fully diluted --
Average common and common equivalent shares.......... 48,022,327 40,754,635 41,820,072
=========== ============ ===========
Net income............................................. $32,125,000 $ 18,664,000 $14,792,000
Interest on Convertible Notes, net of related tax
effect............................................ 782,000 -- --
Dividends on Preferred Stock, if applicable.......... -- -- (2,200,000)
Distribution -- exchange of Preferred Stock.......... -- (12,163,000) --
----------- ------------ -----------
Primary and fully diluted earnings available for Common
Stock................................................ $32,907,000 $ 6,501,000 $12,592,000
=========== ============ ===========
Primary and fully diluted earnings per common share*... $ 0.69 $ 0.16 $ 0.30
=========== ============ ===========
- ---------------
* In 1995, the impact of the Exchange Agreement, as described in Note H of Notes
to Consolidated Financial Statements, on earnings per common share was a
reduction of $0.24 per common share.