1
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- CONTINUED
- - --------------------------------------------------------------------------------
- - --------------------------------------------------------------------------------
EXHIBIT 11
FEDERATED DEPARTMENT STORES, INC.
EXHIBIT OF PRIMARY AND FULLY DILUTED EARNINGS PER SHARE
(THOUSANDS, EXCEPT PER SHARE DATA)
52 WEEKS ENDED 52 WEEKS ENDED
JANUARY 28, 1995 JANUARY 29, 1994
------------------------ ------------------------
SHARES INCOME SHARES INCOME
------- -------- ------- --------
Net income and average number of shares
outstanding................................. 132,862 $187,616 126,293 $193,248
Earnings per share............................ $1.41 $1.53
PRIMARY COMPUTATION:
Average number of common share equivalents:
Shares to be issued to the U.S.
Treasury............................... 122 163
Deferred compensation plan............... 74 3
Stock options............................ 217 229
------- -------- ------- --------
Adjusted number of common and common
equivalent shares outstanding and
adjusted net income................. 133,275 $187,616 126,688 $193,248
Primary earnings per share............. $1.41 $1.53
FULLY DILUTED COMPUTATION:
Additional adjustments to a fully diluted
basis:
Convertible notes........................ 8,564 10,531 8,564 9,928
Stock options............................ -- 4
------- -------- ------- --------
Adjusted number of shares outstanding and
net income on a fully diluted basis.... 141,839 $198,147 135,256 $203,176
======= ======== ======= ========
Fully diluted earnings per share......... $1.40 $1.50
E-1