COMPUTATION OF EARNINGS PER SHARE
Published on
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Pitney Bowes Inc. - Form 10-Q Pitney Bowes Inc.
Nine Months Ended September 30, 1994 Computation of Earnings per Share Exhibit (i)
Page 17 of 19
Three Months Ended Nine Months Ended
September 30, September 30,
(Dollars in thousands, except per share data) 1994 1993(1) 1994 1993(1)
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Primary
Income from continuing operations (2) $ 85,320 $ 58,386 $ 254,013 $ 204,489
Discontinued operations 10,706 10,644 32,492 33,905
Effect of accounting change - - (119,532) -
Net income $ 96,026 $ 69,030 $ 166,973 $ 238,394
Weighted average number of
common shares outstanding 156,825,702 157,805,764 157,519,505 157,421,291
Preference stock, $2.12 cumulative convertible 838,086 895,740 852,922 912,372
Stock option and purchase plans 365,374 608,754 501,589 730,697
Total common and common equivalent
shares outstanding 158,029,162 159,310,258 158,874,016 159,064,360
Income per common and common equivalent share - primary:
Income from continuing operations $ .54 $ .37 $ 1.60 $ 1.29
Discontinued operations .07 .06 .20 .21
Effect of accounting change - - (.75) -
Net income $ .61 $ .43 $ 1.05 $ 1.50
Fully Diluted
Income from continuing operations $ 85,321 $ 58,387 $ 254,015 $ 204,492
Discontinued operations 10,706 10,644 32,492 33,905
Effect of accounting change - - (119,532) -
Net income $ 96,027 $ 69,031 $ 166,975 $ 238,397
Weighted average number of
common shares outstanding 156,825,702 157,805,764 157,519,505 157,421,291
Preference stock, $2.12 cumulative convertible 838,086 895,740 852,922 912,372
Stock option and purchase plans 387,410 615,865 524,984 738,183
Preferred stock, 4% cumulative convertible 12,774 23,016 14,895 24,761
Total common and common equivalent
shares outstanding 158,063,972 159,340,385 158,912,306 159,096,607
Income per common and common equivalent share -
fully diluted:
Income from continuing operations $ .54 $ .37 $ 1.60 $ 1.29
Discontinued operations .07 .06 .20 .21
Effect of accounting change - - (.75) -
Net income $ .61 $ .43 $ 1.05 $ 1.50
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(1) Restated to reflect discontinued operations.
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(2) Income from continuing operations was adjusted for preferred
dividends.
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