EXHIBIT 11
PROMUS HOTEL CORPORATION
COMPUTATIONS OF PER SHARE EARNINGS
(IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
THREE MONTHS ENDED SIX MONTHS ENDED
JUNE 30, JUNE 30,
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1997 1998 1997 1998
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Net income............................................................ $ 47,376 $ 52,189 $ 86,278 $ 88,205
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Basic Earnings per Share:
Weighted average outstanding shares................................... 86,916 87,202 86,992 86,773
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Net income............................................................ $ 0.55 $ 0.60 $ 0.99 $ 1.02
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Diluted Earnings per Share:
Weighted average outstanding shares................................... 86,916 87,202 86,992 86,773
Effect of dilutive securities:
Restricted stock...................................................... 8 -- 7 --
Stock options and warrants............................................ 1,301 935 1,280 1,057
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Weighted average shares assuming conversion........................... 88,225 88,137 88,279 87,830
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Net income............................................................ $ 0.54 $ 0.59 $ 0.98 $ 1.00
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