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EXHIBIT 11
PROMUS HOTEL CORPORATION
COMPUTATIONS OF PER SHARE EARNINGS
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
THREE MONTHS ENDED SIX MONTHS
JUNE 30, ENDED JUNE 30,
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1998 1999 1998 1999
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Net income ............................ $52,189 $45,683 $88,205 $79,725
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Basic Earnings per Share:
Weighted average outstanding shares 87,202 80,995 86,773 82,219
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Net income per basic share ........ $ 0.60 $ 0.56 $ 1.02 $ 0.97
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Diluted Earnings per Share:
Weighted average outstanding shares 87,202 80,995 86,773 82,219
Effect of dilutive securities:
Stock options and warrants ..... 935 271 1,057 334
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Weighted average shares assuming
Conversion ..................... 88,137 81,266 87,830 82,553
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Net income per diluted share ...... $ 0.59 $ 0.56 $ 1.00 $ 0.97
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