1 THE B.F.GOODRICH COMPANY AND SUBSIDIARIES EXHIBIT 11 - STATEMENT RE COMPUTATION OF PER SHARE EARNINGS Year Ended ------------------------------------------- 1995 1994 1993 ------------- ------------- ------------- (Dollars in millions, except per share amounts) PRIMARY Number of Shares: ---------------- Average number of shares outstanding (including common stock equivalent shares outstanding) 26,169,570 25,766,376 25,687,816 Income: ------- Income from continuing operations $ 118.0 $ 65.7 $ 15.3 Dividends on Preferred Stocks (4.4) (8.0) (8.2) Premium on Preferred Stocks redeeemed (1.2) - - Income (loss) from discontinued operations - 10.0 113.0 ------------- ------------- ------------- Net income (loss) applicable to Common Stock $ 112.4 $ 67.7 $ 120.1 ============= ============= ============= Per Share Amounts: ------------------ Continuing operations $ 4.30 $ 2.24 $ 0.28 Discontinued operations - 0.39 4.40 ------------- ------------- ------------- Net income (loss) $ 4.30 $ 2.63 $ 4.68 ============= ============= ============= FULLY DILUTED Number of Shares: ----------------- Average number of common shares outstanding 25,999,724 25,738,110 25,643,172 Effect of dilutive stock options - based on the treasury method using last day's market price, if higher than average market price 310,398 28,758 44,713 Average number of shares of Common Stock issuable if Convertible Preferred Stock was converted - (A) - (A) 1,999,800 ------------- ------------- ------------- Total average number of common and common equivalent shares outstanding 26,310,122 25,766,868 27,687,685 ============= ============= ============= Income: ------- Income from continuing operations $ 118.0 $ 65.7 $ 15.3 Dividends on Preferred Stocks (4.4) (8.0) (8.2) Restore dividend on Convertible Preferred Stock - (A) - (A) 7.7 Premium on Preferred Stocks redeemed (1.2) - - Restore premium on Preferred Stocks redeemed - (A) - - Income (loss) from discontinued operations - 10.0 113.0 ------------- ------------- ------------- Net income (loss) applicable to Common Stock $ 112.4 $ 67.7 $ 127.8 ============= ============= ============= Per Share Amounts: ------------------ Continuing operations $ 4.27 $ 2.24 $ 0.53 Discontinued operations - 0.39 4.09 ------------- ------------- ------------- Net income (loss) $ 4.27 $ 2.63 $ 4.62 ============= ============= ============= (A) Anti-Dilutive