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EXHIBIT 11.01
EASTMAN CHEMICAL COMPANY AND SUBSIDIARIES
Computation of Earnings Per Common Share
(In millions, except per share amounts)
Second Quarter First Six Months
1996 1995 1996 1995
Net earnings $ 112 $ 158 $ 224 $ 290
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Primary earnings per share
Average number of common shares outstanding 78.7 82.5 79.2 82.8
Common share equivalents(1) 0.9 0.7 0.9 0.6
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Average number of common shares and
share equivalents 79.6 83.2 80.1 83.4
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Primary earnings per share $1.41 $1.90 $2.80 $3.48
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Fully diluted earnings per share
Average number of common shares outstanding 78.8 82.5 79.2 82.8
Common share equivalents(1) 0.8 0.7 0.9 0.8
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Average number of common shares and
share equivalents 79.6 83.2 80.1 83.6
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Fully diluted earnings per share $1.41 $1.90 $2.80 $3.47
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(1) Common share equivalents of the Company represent the effect of dilutive
stock options outstanding during the period.
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