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EXHIBIT 11.01
EASTMAN CHEMICAL COMPANY AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER COMMON SHARE
(IN MILLIONS, EXCEPT PER SHARE AMOUNTS)
THIRD QUARTER FIRST NINE MONTHS
1996 1995 1996 1995
Net earnings $ 96 $ 148 $ 320 $ 438
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PRIMARY EARNINGS PER SHARE
Average number of common shares outstanding 77.9 81.0 78.8 82.2
Common share equivalents (1) 0.6 0.9 0.8 0.7
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Average number of common shares and
share equivalents 78.5 81.9 79.6 82.9
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Primary earnings per share $ 1.22 $ 1.81 $ 4.02 $ 5.28
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FULLY DILUTED EARNINGS PER SHARE
Average number of common shares outstanding 77.9 81.0 78.8 82.2
Common share equivalents (1) 0.7 0.9 0.8 0.9
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Average number of common shares and
share equivalents 78.6 81.9 79.6 83.1
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Fully diluted earnings per share $ 1.22 $ 1.81 $ 4.02 $ 5.27
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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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