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EXHIBIT 11.1
CHEMICAL BANKING CORPORATION
AND SUBSIDIARIES
COMPUTATION OF NET INCOME PER COMMON SHARE
In the 1995 second quarter, the Corporation changed its reporting of earnings
per share ("EPS") from reporting simple EPS (which is based solely on the
average number of common shares outstanding) to reporting primary and
fully-diluted EPS (which are based on the average number of common and common
equivalent shares outstanding). Previously, the Corporation reported simple
EPS, since the difference between simple EPS and primary EPS or simple EPS and
fully-diluted EPS were not material (less than 3%). Primary and fully-diluted
EPS are now being reported for all periods presented.
For a further discussion on the computation of primary and fully-diluted EPS,
see Note One on page 51.
(a) During the second quarter of 1995, the Corporation called all of the
outstanding shares of its 10% convertible preferred stock for redemption.
Substantially all of the 10% convertible preferred stock was converted, at the
option of the holders thereof, to common stock. The common stock was issued
from treasury.
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