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, 1995 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) 1995 1994 1995 1994
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Primary
Income from continuing operations (1) $ 100,740 $ 85,320 $ 295,077 $ 254,013
Discontinued operations 154,434 10,706 175,431 32,492
Effect of accounting change - - - (119,532)
Net income applicable to common stock $ 255,174 $ 96,026 $ 470,508 $ 166,973
Weighted average number of common shares
outstanding 151,524,929 156,825,702 151,263,445 157,519,505
Preference stock, $2.12 cumulative convertible 774,412 838,086 792,100 852,922
Stock option and purchase plans 555,571 365,374 337,783 501,589
Total common and common equivalent shares
outstanding 152,854,912 158,029,162 152,393,328 158,874,016
Income per common and common equivalent share -
primary:
Income from continuing operations $ .66 $ .54 $ 1.94 $ 1.60
Discontinued operations 1.01 .07 1.15 .20
Effect of accounting change - - - (.75)
Net income $ 1.67 $ .61 $ 3.09 $ 1.05
Fully Diluted
Income from continuing operations $ 100,740 $ 85,321 $ 295,078 $ 254,015
Discontinued operations 154,434 10,706 175,431 32,492
Effect of accounting change - - - (119,532)
Net income applicable to common stock $ 255,174 $ 96,027 $ 470,509 $ 166,975
Weighted average number of common shares
outstanding 151,524,929 156,825,702 151,263,445 157,519,505
Preference stock, $2.12 cumulative convertible 774,412 838,086 792,100 852,922
Stock option and purchase plans 561,119 387,410 364,667 524,984
Preferred stock, 4% cumulative convertible 11,490 12,774 11,514 14,895
Total common and common equivalent shares
outstanding 152,871,950 158,063,972 152,431,726 158,912,306
Income per common and common equivalent share -
fully diluted:
Income from continuing operations $ .66 $ .54 $ 1.94 $ 1.60
Discontinued operations 1.01 .07 1.15 .20
Effect of accounting change - - - (.75)
Net income $ 1.67 $ .61 $ 3.09 $ 1.05
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(1) Income from continuing operations was adjusted for preferred dividends.
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