State Street Corp – ‘10-K’ for 12/31/93 – EX-11

As of:  Wednesday, 3/30/94   ·   For:  12/31/93   ·   Accession #:  950156-94-9   ·   File #:  0-05108

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Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        State Street Boston Corp. Form 10-K                   19    123K 
 2: EX-10       Material Contracts                                     6±    29K 
 3: EX-10       Material Contracts                                     2±    11K 
 4: EX-10       Material Contracts                                     1      8K 
 5: EX-10       Material Contracts                                     2±    11K 
 6: EX-10       Material Contracts                                     2±    10K 
 7: EX-10       Material Contracts                                     2±     9K 
 8: EX-10       Material Contracts                                    13±    60K 
 9: EX-11       Statement Re Computation of Per Share Earnings         1     10K 
10: EX-12       Statement Re Computation of Ratios                     2±    11K 
11: EX-13       Annual Report to Stockholders                          2±    12K 
12: EX-13       Annual Report to Stockholders                         24±    97K 
13: EX-13       Annual Report to Stockholders                          2±    13K 
14: EX-13       Annual Report to Stockholders                         20    106K 
15: EX-21       Subsidiaries of the Registrant                         2±    11K 
16: EX-23       Consents of Experts and Counsel                        1      8K 

EX-11   —   Statement Re Computation of Per Share Earnings

                                                                EXHIBIT 11.1

                                                        [Enlarge/Download Table]
                       STATE STREET BOSTON CORPORATION                                              

                      COMPUTATION OF EARNINGS PER SHARE                                             



                                                             YEAR ENDED DECEMBER 31                 
                                             -------------------------------------------------------
                                                          1993              1992            1991    
                                                          ----              ----            ----    
                                                  (DOLLARS IN THOUSANDS, EXCEPT PER SHARE DATA)     
                                                                                                    
Primary:                                                                                            
  Average shares outstanding ..............               75,443,604      74,761,232      73,649,678
  Common stock equivalents ................                  749,560       1,474,069       1,319,808
                                                         -----------      ----------      ----------
      Primary shares outstanding ..........               76,193,164      76,235,301      74,969,486
                                                         -----------      ----------      ----------
                                                         -----------      ----------      ----------
  Net income ..............................                 $179,829        $160,443        $139,270
                                                             -------         -------         -------
                                                             -------         -------         -------
  Earnings Per Share - primary ............                 $   2.36        $   2.10        $   1.86
                                                             -------         -------         -------
                                                             -------         -------         -------
Fully diluted:                                                                                      
  Average shares outstanding ..............               75,443,604      74,761,232      73,649,678
  Common stock equivalents ................                  749,560       1,738,055       1,798,392
  Assumed conversion of 5% convertible                                                              
    notes .................................                   41,259          41,323          41,323
  Assumed conversion of 734% convertible                                                            
    subordinated debentures ...............                  942,079       1,157,163       1,626,582
                                                         -----------      ----------      ----------
      Fully diluted average shares                                                                  
        outstanding .......................               77,176,502      77,697,773      77,115,975
                                                         -----------      ----------      ----------
                                                         -----------      ----------      ----------
  Net income ..............................                 $179,829        $160,443        $139,270
  Elimination of interest on 5% convertible                                                         
    notes and 734% convertible subordinated                                                         
    debentures less related income tax                                                              
    benefit ...............................                      214             296             399
                                                             -------         -------         -------
      Fully diluted net income ............                 $180,043        $160,739        $139,669
                                                             -------         -------         -------
                                                             -------         -------         -------
  Earnings Per Share - fully diluted ......                 $   2.33        $   2.07        $   1.81
                                                             -------         -------         -------
                                                             -------         -------         -------