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EXHIBIT 11
KEYCORP
COMPUTATION OF NET INCOME PER COMMON SHARE
(dollars in thousands, except per share amounts)
THREE MONTHS ENDED MARCH 31,
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1994 1993
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NET INCOME APPLICABLE TO COMMON SHARES
Net income $208,637 $189,874
Less: Preferred dividend requirements 4,000 5,489
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Net income applicable to Common Shares $204,637 $184,385
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NET INCOME PER COMMON SHARE
Weighted average Common Shares outstanding 241,925,802 237,925,676
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Net income applicable to Common Shares $204,637 $184,385
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Net income per Common Share $0.85 $0.77
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NET INCOME PER COMMON SHARE -- PRIMARY
Weighted average Common Shares outstanding 241,925,802 237,925,676
Dilutive common stock options 2,355,939 1,898,854
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Weighted average Common Shares and Common Share
equivalents outstanding 244,281,741 239,824,530
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Net income applicable to Common Shares $204,637 $184,385
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Net income per Common Share $0.84 $0.77
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NET INCOME PER COMMON SHARE -- FULLY DILUTED
Weighted average Common Shares outstanding 241,925,802 237,925,676
Dilutive common stock options 2,357,998 2,255,306
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Weighted average Common Shares and Common Share
equivalents outstanding 244,283,800 240,180,982
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Net income applicable to Common Shares $204,637 $184,385
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Net income per Common Share $0.84 $0.77
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FN>
DILUTIVE COMMON STOCK OPTIONS ARE BASED ON THE TREASURY STOCK METHOD USING
AVERAGE MARKET PRICE IN COMPUTING NET INCOME PER COMMON SHARE -- PRIMARY,
AND THE HIGHER OF PERIOD-END MARKET PRICE OR AVERAGE MARKET PRICE IN
COMPUTING NET INCOME PER COMMON SHARE -- FULLY DILUTED.