EXHIBIT 11
STATE STREET BOSTON CORPORATION
COMPUTATION OF EARNINGS PER SHARE
YEAR ENDED DECEMBER 31,
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1995 1994 1993
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(DOLLARS IN THOUSANDS, EXCEPT PER
SHARE DATA)
Primary:
Average shares outstanding ............. 82,553,704 82,297,360 81,415,826
Common stock equivalents ............... 504,745 525,577 749,560
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Primary shares outstanding ........... 83,058,449 82,822,937 82,165,386
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Net income ........................... $ 247,109 $ 220,343 $ 189,386
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Earnings Per Share -- primary ........ $ 2.98 $ 2.66 $ 2.30
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Fully diluted:
Average shares outstanding ............. 82,553,704 82,297,360 81,415,826
Common stock equivalent ................ 717,740 525,577 749,560
Assumed conversion of 5%
convertible notes ..................... 571,940 631,028 983,338
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Fully diluted average
shares outstanding .................. 83,843,384 83,453,965 83,148,724
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Net income ............................. $ 247,109 $ 220,343 $ 189,386
Elimination of interest on 5%
convertible notes and 7 3/4%
convertible subordinated debentures
less related income tax benefit ...... 147 155 214
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Fully diluted net income ............. $ 247,256 $ 220,498 $ 189,600
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Earnings Per Share -- fully diluted ...... $ 2.95 $ 2.64 $ 2.28
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