EXHIBIT 11
OGDEN CORPORATION AND SUBSIDIARIES
DETAIL OF COMPUTATION OF EARNINGS APPLICABLE TO COMMON STOCK
FOR THE THREE MONTHS ENDED MARCH 31,
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1999 1998
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Income Shares Per-Share Income Shares Per Share
(Numerator) (Denominator) Amount (Numerator) (Denominator) Amount
----------- ------------- ------ ----------- ------------- ------
(In Thousands, Except for Share Amounts)
Income before cumulative effect
of change in accounting principle $10,521 $11,700
Less: preferred stock dividend 35 37
------- -------
Basic Earnings Per Share 10,486 48,960 $0.21 11,663 50,361 $0.23
----- -----
Effect of Dilutive Securities:
Stock options 494 1,222
Convertible preferred stock 35 251 37 263
6% convertible debentures (A) (A)
5 3/4% convertible debentures (A) (A)
------- ------ ------- ------
Diluted Earnings per Share $10,521 49,705 $0.21 $11,700 51,846 $0.23
------- ------ ----- ------- ------ -----
(A) Antidulitive
FOR THE THREE MONTHS ENDED MARCH 31,
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1999 1998
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Income Shares Per-Share Income Shares Per Share
(Numerator) (Denominator) Amount (Numerator) (Denominator) Amount
----------- ------------- ------ ----------- ------------- ------
(In Thousands, Except for Share Amounts)
Net income $ 6,701 $11,700
Less: preferred stock dividend 35 37
------- -------
Basic Earnings Per Share 6,666 48,960 $0.14 11,663 50,361 $0.23
----- -----
Effect of Dilutive Securities:
Stock options 494 1,222
Convertible preferred stock 35 251 37 263
6% convertible debentures (A) (A)
5 3/4% convertible debentures (A) (A)
------- ------ ------- ------
Diluted Earnings per Share $ 6,701 49,705 $0.14 $11,700 51,846 $0.23
------- ------ ----- ------- ------ -----
(A) Antidulitive
Note:
Earnings per common share was computed by dividing net income, reduced by
preferred stock dividend requirements, by the weighted average of the number of
shares of common stock outstanding during each period.
Diluted earnings per common share 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 the date of issuance or grant, if
dilutive. This computation provides for the elimination of related convertible
debenture interest and preferred dividends.