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EXHIBIT 11
POTASH CORPORATION OF SASKATCHEWAN INC.
COMPUTATION OF PER SHARE EARNINGS
FOR THE QUARTERS ENDED JUNE 30
(Figures and amounts expressed in thousands of U.S. dollars, except per share
and per option amounts)
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YTD -1997 YTD -1996 Q2-1997 Q2-1996
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A Net Income as reported, Canadian GAAP 153,345 116,076 96,980 52,398
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B Items adjusting net income (4,292) (4,318) (1,118) (1,091)
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C Net Income, US GAAP (A+B) 149,053 111,758 95,862 51,307
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D Weighted average number of shares 50,770 45,513 53,685 45,543
outstanding
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E Options outstanding to purchase 1,627 1,289 1,627 1,289
equivalent shares
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F Average exercise price per option $52.90 $43.55 $52.90 $43.55
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G Average market price per share 79.56 67.91 78.67 $65.47
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H Period end market price per share 75.06 66.25 75.06 $66.25
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I Rate of Return available on option 0.05 0.05 0.05 0.05
proceeds
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CANADIAN GAAP
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Basic earnings per share (A/D $3.02 $2.55 $1.81 $1.15
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Fully diluted earnings per share
J Imputed earnings on option proceeds
(E*F*1) 4,302 2,807 4,302 2,807
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Fully diluted earnings per share $3.01 $2.54 $1.83 $1.18
((A+J)/(D+E))
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UNITED STATES GAAP
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Basic earnings per share
Net additional shares issuable 545 462 533 432
K (E-(E*F/G))
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Basic earnings per share (C/(D+K)) $2.90 $2.43 $1.77 $1.12
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Fully diluted earnings per share
L Net additional shares issuable
(E-(E*F/H)) 480 442 480 442
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Fully diluted earnings per share
(C/(D+L)) $2.91 $2.43 $1.77 $1.12
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D+K Weighted average shares for US GAAP 51,315 45,975 54,218 45,975
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