1 EXHIBIT 11 - STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS ---------- Quarter Ended Three Quarters Ended ------------------- -------------------- March 31, March 31, March 31, March 31, 1997 1996 1997 1996 ------- ------- ------- ------- (In millions, except per share amounts) Primary: Average shares outstanding 39.7 38.9 39.3 39.0 ======= ======= ======= ======= Net income $ 55.6 $ 44.2 $ 139.3 $ 118.1 ======= ======= ======= ======= Net income per share - primary $ 1.40 $ 1.14 $ 3.55 $ 3.03 ======= ======= ======= ======= Fully diluted: Total primary average shares outstanding 39.7 38.9 39.3 39.0 Dilutive stock options - based on treasury stock method using the greater of quarter-end market price or average market price .2 .1 .2 .1 ------- ------- ------- ------- Average fully diluted shares outstanding 39.9 39.0 39.5 39.1 ======= ======= ======= ======= Net income per share - fully diluted $ 1.39 $ 1.13 $ 3.53 $ 3.02 ======= ======= ======= =======