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EXHIBIT 11.1
WORLDCOM, INC. AND SUBSIDIARIES
COMPUTATION OF PER SHARE EARNINGS
(In thousands, except per share data)
For the Three Months Ended For the Six Months Ended
June 30, June 30,
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1996 1995 1996 1995
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Primary:
Weighted average shares outstanding 391,160 326,270 389,363 323,532
Common stock equivalents - 11,352 - 12,052
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391,160 337,622 389,363 335,584
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Net income (loss) applicable to common shareholders
before extraordinary items $ (244,023) $ 54,879 $ (159,028) $ 101,903
Extraordinary items (24,434) - (24,434) -
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Net income (loss) applicable to common shareholders $ (268,457) $ 54,879 $ (183,462) $ 101,903
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Primary earnings (loss) per share:
Applicable to common shareholders before extraordinary items $ (0.62) $ 0.16 $ (0.41) $ 0.30
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Extraordinary items $ (0.06) $ - $ (0.06) $ -
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Applicable to common shareholders $ (0.69) $ 0.16 $ (0.47) $ 0.30
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Fully diluted:
Weighted average shares outstanding 391,160 326,270 389,363 323,532
Common stock equivalents - 11,924 - 12,598
Common stock issuable upon conversion of:
5% convertible notes - 10,270 - 10,270
Series 1 preferred stock - 43,754 - 43,754
Series 2 preferred stock - 8,466 - 8,466
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391,160 400,684 389,363 398,620
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Net income (loss) applicable to common shareholders
before extraordinary items $ (244,023) $ 54,879 $ (159,028) $ 101,903
Extraordinary items (24,434) - (24,434) -
Add back:
Interest on 5% convertible notes, net of taxes - 1,491 - 2,982
Series 1 preferred dividend requirement - 6,124 - 12,250
Series 2 preferred dividend requirement - 812 - 1,625
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Income (loss) applicable to common shareholders $ (268,457) $ 63,306 $ (183,462) $ 118,760
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Fully diluted earnings per share:
Applicable to common shareholders before extraordinary items $ (0.62) $ 0.16 $ (0.41) $ 0.30
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Extraordinary items $ (0.06) $ - $ (0.06) $ -
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Applicable to common shareholders $ (0.69) $ 0.16 $ (0.47) $ 0.30
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