EXHIBIT 11
OGDEN CORPORATION AND SUBSIDIARIES
DETAIL OF COMPUTATION OF EARNINGS APPLICABLE TO COMMON STOCK
FOR THE NINE MONTHS FOR THE THREE MONTHS
ENDED SEPTEMBER 30, ENDED SEPTEMBER 30,
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1996 1995 1996 1995
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(In Thousands)
NUMBER OF SHARES USED FOR COMPUTATION OF
EARNINGS PER SHARE:
Average number of common shares 49,642 49,361 49,705 49,413
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NUMBER OF SHARES USED FOR COMPUTATION OF
EARNINGS PER SHARE ASSUMING FULL DILUTION:
Average number of common shares 49,642 49,361 49,705 49,413
Shares issuable for conversion of preferred stock 291 309 287 302
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Number of shares used for computation 49,933 49,670 49,992 49,715
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COMPUTATION OF EARNINGS APPLICABLE TO COMMON SHARES:
Net income $ 46,564 $ 46,000 $ 20,388 $ 23,828
Less: dividends on Ogden preferred stock (121) (129) (40) (42)
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Consolidated income applicable to Ogden common stock $ 46,443 $ 45,871 $ 20,348 $ 23,786
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COMPUTATION OF EARNINGS APPLICABLE TO COMMON SHARES-
ASSUMING FULL DILUTION:
Net income $ 46,564 $ 46,000 $ 20,388 $ 23,828
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Note:
Earnings per common share was computed by dividing net income, increased
(decreased) for adjustments arising from minority interest in consolidated
subsidiaries, reduced by preferred stock dividend requirements, by the
weighted average of the number of shares of common stock and common stock
equivalents, where dilutive, outstanding during each period.
Earnings per common share, assuming full dilution, was computed on the
assumption that all convertible debentures, convertible preferred stock,
and stock options converted or exercised during each period, or outstanding
at the end of each period were converted at the beginning of each period or
at the date of issuance or grant, if dilutive. This computation provides
for the elimination of related convertible debenture interest and preferred
dividends.
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