Annual Report — [x] Reg. S-K Item 405 — Form 10-K
Filing Table of Contents
Document/Exhibit Description Pages Size
1: 10-K405 Annual Report -- [x] Reg. S-K Item 405 98 567K
2: EX-4.(E) 2nd Amended & Restated Credit Agreement 4 16K
3: EX-10.(N) Material Contract 14 49K
4: EX-10.(O) Material Contract 15 52K
5: EX-11 Computation 2± 14K
6: EX-21 Subsidiary List 46 142K
7: EX-23.(A) Consent of Ind. Acc. 1 9K
8: EX-24 POA 8 20K
9: EX-27.1 Financial Data Schedule 2 12K
10: EX-27.2 FDS #2 2 12K
11: EX-27.3 FDS #3 2 12K
12: EX-27.4 FDS #4 2 12K
13: EX-27.5 FDS #5 2 12K
14: EX-27.6 FDS #6 2 12K
15: EX-27.7 FDS #7 2 12K
16: EX-27.8 FDS #8 2 12K
17: EX-27.9 FDS #9 2 11K
EX-11 — Computation
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Exhibit 11
VIACOM INC. AND SUBSIDIARIES
COMPUTATION OF NET EARNINGS PER SHARE
Year ended December 31,
-----------------------
1997 1996 1995
---- ---- ----
(In millions, except per share amounts)
EARNINGS:
Earnings from continuing operations . . . . . . . . . . . $374.5 $ 170.7 $150.5
Cumulative convertible preferred stock dividend
requirement. . . . . . . . . . . . . . . . . . . . . . . 60.0 60.0 60.0
------ -------- ------
Earnings from continuing operations attributable to common
stock. . . . . . . . . . . . . . . . . . . . . . . . . . 314.5 110.7 90.5
Earnings (loss) from discontinued operations, net of tax. 13.9 (80.5) 72.0
Net gain on discontinued operations, net of tax . . . . . 405.2 1,157.7 --
------ -------- ------
Net earnings. . . . . . . . . . . . . . . . . . . . . . . $733.6 $1,187.9 $162.5
====== ======== ======
BASIC COMPUTATION:
------------------
SHARES:
Weighted average number of common shares. . . . . . . . . 352.9 364.0 362.5
====== ======== ======
EARNINGS PER COMMON SHARE:
Earnings from continuing operations . . . . . . . . . . . $ 0.89 $ 0.30 $ 0.25
Earnings (loss) from discontinued operations, net of tax. 0.04 (0.22) 0.20
Net gain on discontinued operations, net of tax . . . . . 1.15 3.18 --
------ -------- ------
Net earnings. . . . . . . . . . . . . . . . . . . . . . . $ 2.08 $ 3.26 $ 0.45
====== ======== ======
DILUTED COMPUTATION:
--------------------
SHARES:
Weighted average number of common shares (basic). . . . . 352.9 364.0 362.5
Common shares potentially issuable in connection
with:
Stock options and warrants . . . . . . . . . . . . . . 1.4 3.4 8.2
Variable common rights (1) . . . . . . . . . . . . . . -- -- 4.4
Preferred Stock (2) . . . . . . . . . . . . . . . . . -- -- --
------ -------- ------
Weighted average number of common shares (diluted). . . . 354.3 367.4 375.1
====== ======== ======
EARNINGS PER COMMON SHARE:
Earnings from continuing operations . . . . . . . . . . . $ 0.89 $ 0.30 $ 0.24
Earnings (loss) from discontinued operations,
net of tax. . . . . . . . . . . . . . . . . . . . . . . 0.04 (0.22) 0.19
Net gain on discontinued operations, net of tax . . . . . 1.14 3.15 --
------ -------- ------
Net earnings. . . . . . . . . . . . . . . . . . . . . . . $ 2.07 $ 3.23 $ 0.43
====== ======== ======
(1) The variable common rights (the "VCRs") matured on September 29, 1995. The
Company issued approximately 6.1 million shares of Viacom Inc. Class B
Common Stock, or .022665 of a share of Viacom Inc. Class B Common Stock per
VCR, to settle its obligation under the VCRs.
(2) For the years ended December 31, 1997, 1996, and 1995, the assumed
conversion of preferred stock had an anti-dilutive effect on earnings per
share, resulting from the assumed reduction in preferred stock dividends,
and therefore was excluded from the diluted earnings per share calculation.
Dates Referenced Herein and Documents Incorporated by Reference
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