COMPUTATION OF EARNINGS PER SHARE
Published on
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Pitney Bowes Inc. - Form 10-Q Pitney Bowes Inc.
Six Months Ended June 30, 1995 Computation of Earnings per Share Exhibit (i)
Page 17 of 19
Three Months Ended June 30, Six Months Ended June 30,
(Dollars in thousands, except per share data) 1995 1994(1) 1995 1994(1)
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Primary
Income from continuing operations (2) $ 98,348 $ 87,086 $ 194,337 $ 168,693
Discontinued operations 10,675 11,532 20,997 21,786
Effect of accounting change - - - (119,532)
Net income applicable to common stock $ 109,023 $ 98,618 $ 215,334 $ 70,947
Weighted average number of common shares
outstanding 151,140,234 157,752,918 151,147,730 157,918,406
Preference stock, $2.12 cumulative convertible 789,002 850,662 800,486 860,118
Stock option and purchase plans 324,315 513,514 224,559 571,307
Total common and common equivalent shares
outstanding 152,253,551 159,117,094 152,172,775 159,349,831
Income per common and common equivalent share -
primary:
Continuing operations $ .65 $ .55 $ 1.28 $ 1.06
Discontinued operations .07 .07 .14 .14
Effect of accounting change - - - (.75)
Net income $ .72 $ .62 $ 1.42 $ .45
Fully Diluted
Income from continuing operations $ 98,349 $ 87,086 $ 194,338 $ 168,694
Discontinued operations 10,675 11,532 20,997 21,786
Effect of accounting change - - - (119,532)
Net income applicable to common stock $ 109,024 $ 98,618 $ 215,335 $ 70,948
Weighted average number of common shares
outstanding 151,140,234 157,752,918 151,147,730 157,918,406
Preference stock, $2.12 cumulative convertible 789,002 850,662 800,486 860,118
Stock option and purchase plans 356,987 522,388 259,794 592,135
Preferred stock, 4% cumulative convertible 11,490 15,235 11,526 15,804
Total common and common equivalent shares
outstanding 152,297,713 159,141,203 152,219,536 159,386,463
Income per common and common equivalent share -
fully diluted:
Continuing operations $ .65 $ .55 $ 1.28 $ 1.06
Discontinued operations .07 .07 .14 .14
Effect of accounting change - - - (.75)
Net income $ .72 $ .62 $ 1.42 $ .45
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(1) Reclassified to reflect discontinued operations.
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(2) Income from continuing operations was adjusted for preferred dividends.
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