EXHIBIT (11) - STATEMENT RE: COMPUTATION OF NET INCOME PER COMMON SHARE
COMPUTATION OF NET INCOME PER COMMON SHARE
COMERICA INCORPORATED AND SUBSIDIARIES
(IN MILLIONS, EXCEPT PER SHARE DATA)
THREE MONTHS ENDED SIX MONTHS ENDED
JUNE 30, JUNE 30,
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2002 2001 2002 2001
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BASIC:
Average shares outstanding 176 178 176 178
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Net income $184 $208 $398 $302
Less preferred stock dividends - 3 - 8
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Net income applicable to common
stock $184 $205 $398 $294
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Basic net income per common share $1.05 $1.15 $2.26 $1.65
DILUTED:
Average shares outstanding 176 178 176 178
Nonvested stock - - - -
Common stock equivalent:
Net effect of the assumed
exercise of stock options 2 2 2 2
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Diluted average shares 178 180 178 180
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Net income $184 $208 $398 $302
Less preferred stock dividends - 3 - 8
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Net income applicable to common
stock $184 $205 $398 $294
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Diluted net income per common share $1.03 $1.13 $2.23 $1.63