LOCKHEED MARTIN CORPORATION COMPUTATION OF EARNINGS PER COMMON SHARE
Year ended December 31, 1995 1994 1993 -------- ------- -------- (In millions, except per share data) ASSUMING NO DILUTION: Average number of common shares outstanding 189.3 187.0 196.6 ====== ====== ======
Earnings before cumulative effect of change in accounting $ 682 $1,055 $ 829
Earnings before cumulative effect of change in accounting applicable to common stock 622 995 784
Cumulative effect of change in accounting - (37) - ------ ------ ------ Net earnings applicable to common stock $ 622 $ 958 $ 784 ====== ====== ======
Earnings per common share: Before cumulative effect of change in accounting $ 3.28 $ 5.32 $ 3.99 Cumulative effect of change in accounting - (.20) - ------ ------ ------ $ 3.28 $ 5.12 $ 3.99 ====== ====== ======
EXHIBIT 11 - CONTINUED
LOCKHEED MARTIN CORPORATION
COMPUTATION OF EARNINGS PER COMMON SHARE
Year ended December 31, 1995 1994 1993 -------- ------- -------- (In millions, except per share data) ASSUMING FULL DILUTION: Average number of common shares outstanding 189.3 187.0 196.6
Dilutive stock options-based on the treasury stock method using the year-end market prices, if higher than average market price 5.0 2.4 2.8
Assumed conversion of the Convertible Series A Preferred Stock 28.9 28.9 21.7 ------ ------ ------ 223.2 218.3 221.1 ====== ====== ====== Earnings before cumulative effect of change in accounting $ 682 $1,055 $ 829
Cumulative effect of change in accounting - (37) - ------ ------ ------ Net earnings $ 682 $1,018 $ 829 ====== ====== ====== Earnings per common share: Before cumulative effect of change in accounting $ 3.05 $ 4.83 $ 3.75 Cumulative effect of change in accounting - (.17) - ------ ------ ------ $ 3.05 $ 4.66 $ 3.75 ====== ====== ======