COMPUTATION OF PER COMMON SHARE EARNINGS
Published on May 12, 1995
EXHIBIT 11
MERRILL LYNCH & CO., INC. AND SUBSIDIARIES
COMPUTATION OF PER COMMON SHARE EARNINGS
(In Thousands, Except Per Share Amounts)
For the Three Months Ended
--------------------------
March 31, April 1,
1995(A) 1994(A)
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PRIMARY:
Net earnings.................................... $227,275 $371,759
Preferred stock dividends....................... (11,941) (1,336)
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Net earnings applicable to common stockholders.. $215,334 $370,423
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Weighted average shares outstanding:
Common stock.................................. 180,396 202,774
Assuming issuance of shares relating to
employee incentive plans..................... 18,782 17,859
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Total shares.................................... 199,178 220,633
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Per common share amounts:
Net earnings.................................... $ 1.08 $ 1.68
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FULLY DILUTED:
Net earnings.................................... $227,275 $371,759
Preferred stock dividends....................... (11,941) (1,336)
-------- --------
Net earnings applicable to common stockholders.. $215,334 $370,423
======== ========
Weighted average shares outstanding:
Common stock.................................. 180,396 202,774
Assuming issuance of shares relating to
employee incentive plans..................... 18,782 17,859
-------- --------
Total shares.................................... 199,178 220,633
======== ========
Per common share amounts:
Net earnings.................................... $ 1.08 $ 1.68
======== ========
(A) In accordance with Accounting Principles Board Opinion No. 15, the modified
treasury stock method was used to calculate per common share earnings.