CBS Corp – ‘10-K’ for 12/31/95 – EX-11

As of:  Monday, 4/1/96   ·   For:  12/31/95   ·   Accession #:  950112-96-1003   ·   File #:  1-09553

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Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Viacom Inc.                                          107    510K 
 2: EX-4.(F)    Instrument Defining the Rights of Security Holders   100    236K 
 3: EX-4.(G)    Instrument Defining the Rights of Security Holders    81    187K 
 4: EX-4.(H)    Instrument Defining the Rights of Security Holders    37     76K 
 5: EX-10.(C)   Material Contract                                      4     21K 
 6: EX-10.(L)   Material Contract                                     14     54K 
 7: EX-10.(M)   Material Contract                                     14     53K 
 8: EX-11       Statement re: Computation of Earnings Per Share        2±    13K 
 9: EX-21       Subsidiaries of the Registrant                        13     83K 
10: EX-23.(A)   Consent of Experts or Counsel                          1      7K 
11: EX-24       Power of Attorney                                      9     21K 
12: EX-27       Financial Data Schedule (Pre-XBRL)                     1     10K 

EX-11   —   Statement re: Computation of Earnings Per Share

                                                                      Exhibit 11

            Viacom Inc. and Subsidiaries
             Computation of Net Earnings Per Share

                                                        [Enlarge/Download Table]


                                                             Year ended December 31,      
                                                     ------------------------------------ 
                                                      1995          1994            1993  
                                                      ----          ----            ----  
                                                   (In millions, except per share amounts)
Earnings:                                                                                 
                                                                                          
Net earnings from continuing operations.........     $214.9       $130.5         $ 169.5  
Cumulative convertible preferred stock dividend                                           
  requirement...................................       60.0         75.0            12.8  
                                                     ------       ------         -------  
Earnings from continuing operations attributable                                          
  to common stock...............................      154.9         55.5           156.7  
Earnings (loss) from discontinued operations, net                                         
  of tax........................................        7.6        (20.5)             --  
Extraordinary loss, net of tax..................         --        (20.4)           (8.9) 
Cumulative effect of change in accounting                                                 
  principle.....................................         --           --            10.4  
Net earnings attributable to common stock.......     $162.5       $ 14.6         $ 158.2  

Primary Computation:                                                                      
--------------------                                                                      
 Shares:                                                                                  
   Weighted average number of common shares.....      362.4        207.6           120.6  
   Common shares potentially issuable in                                                  
      connection with:                                                                    
      Stock options and warrants................        8.3          2.6              --  
      Contingent value rights (a)...............         --          5.8              --  
      Variable common rights (b)................        4.4          4.0              --  
   Weighted average common shares and common                                              
      share equivalents.........................      375.1        220.0           120.6  

Net earnings per common share:                                                            
    Net earnings from continuing operations.....     $  .41      $   .25          $ 1.30  
    Earnings (loss) from discontinued operations,                                         
    net of tax..................................        .02         (.09)             --  
    Extraordinary loss, net of tax..............         --         (.09)           (.07) 
    Cumulative effect of change in accounting                                             
      principle...................................       --           --             .08  
                                                     ------       ------          ------  
    Net earnings................................     $  .43      $   .07          $ 1.31  
                                                     ======       ======          ======  

Fully Diluted Computation (c):                                                            
--------------------------                                                                
 Shares:                                                                                  
   Weighted average number of common shares                                               
     outstanding................................      362.4        207.6           120.6  
   Common shares potentially issuable in                                                  
     connection with:                                                                     
      Stock options and warrants................        8.6          3.0              --  
      Contingent value rights (a)...............         --          5.8              --  
      Variable common rights (b)................        4.5          4.0              --  
                                                     ------       ------          ------  
   Weighted average common shares and common                                              
      share equivalents.........................      375.5        220.4           120.6  
                                                     ======       ======          ======  

Net earnings per common share:                                                            
   Net earnings from continuing operations......     $  .41      $   .25         $  1.30  
   Earnings (loss) from discontinued operations,                                          
      net of tax................................        .02         (.09)             --  
   Extraordinary loss, net of tax...............         --         (.09)           (.07) 
   Cumulative effect of change in accounting                                              
      principle.................................         --           --             .08  
                                                     ------       ------          ------  
   Net earnings.................................     $  .43      $   .07         $  1.31  
                                                     ======       ======          ======  

(a) The contingent value rights (the "CVRs") matured on July 7, 1995.  The      
Company paid approximately $81.9 million in cash of approximately $1.44 
per CVR to settle is obligation.                                        

(b) 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.                 

(c) The Preferred Stock and related dividend requirement had an                 
anti-dilutive effect on earnings per share in 1995, 1994 and 1993 and,  
therefore, were excluded from the computation.                          

Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘10-K’ Filing		Date		Other Filings
Filed on:		4/1/96
For Period End:		12/31/95		11-K
		9/29/95		8-K
		7/7/95
				List all Filings