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, 1996 Computation of Earnings per Share Exhibit (ii)
Page 49
Three Months Ended June 30, Six Months Ended June 30,
(Dollars in thousands, except per share data) 1996 1995 1996 1995
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Primary
Income from continuing operations (1) $ 118,533 $ 98,348 $ 225,042 $ 194,337
Discontinued operations - 10,675 - 20,997
Net income applicable to common stock $ 118,533 $ 109,023 $ 225,042 $ 215,334
Weighted average number of common shares
outstanding 149,444,335 151,140,234 149,655,627 151,147,730
Preference stock, $2.12 cumulative convertible 731,416 789,002 738,887 800,486
Stock option and purchase plans 769,363 324,315 777,022 224,559
Total common and common equivalent shares
outstanding 150,945,114 152,253,551 151,171,536 152,172,775
Income per common and common equivalent share -
primary:
Continuing operations $ .79 $ .65 $ 1.49 $ 1.28
Discontinued operations - .07 - .14
Net income $ .79 $ .72 $ 1.49 $ 1.42
Fully Diluted
Income from continuing operations $ 118,533 $ 98,349 $ 225,042 $ 194,338
Discontinued operations - 10,675 - 20,997
Net income applicable to common stock $ 118,533 $ 109,024 $ 225,042 $ 215,335
Weighted average number of common shares
outstanding 149,444,335 151,140,234 149,655,627 151,147,730
Preference stock, $2.12 cumulative convertible 731,416 789,002 738,887 800,486
Stock option and purchase plans 803,981 356,987 846,838 259,794
Preferred stock, 4% cumulative convertible 11,490 11,490 11,490 11,526
Total common and common equivalent shares
outstanding 150,991,222 152,297,713 151,252,842 152,219,536
Income per common and common equivalent share -
fully diluted:
Continuing operations $ .79 $ .65 $ 1.49 $ 1.28
Discontinued operations - .07 - .14
Net income $ .79 $ .72 $ 1.49 $ 1.42
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[FN]
(1) Income from continuing operations was adjusted for preferred dividends.