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Previous: MILLENNIUM CHEMICALS INC, 10-Q, 2000-08-14 |
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MILLENNIUM CHEMICALS INC.
COMPUTATION OF PER SHARE EARNINGS EXHIBIT 11.1
<TABLE>
<CAPTION>
BASIC WEIGHTED AVERAGE # SHARES
----------------------------------- ----------------------------------
YEAR
SHARES QUARTER EPS TO DATE EPS
------------- -------------- --- ------------- ---
<S> <C> <C> <C> <C> <C>
SHARES OF COMMON STOCK OUTSTANDING
AT DECEMBER 31, 1998 75,170,692 75,170,692 75,170,692
SHARE REPURCHASE:
JANUARY (82,800) (82,800) (82,800)
FEBRUARY (1,240,300) (1,240,300) (1,033,583)
MARCH (1,449,500) (1,449,500) (966,333)
APRIL (639,000) (639,000) (319,500)
MAY (2,125,100) (1,417,442) (708,367)
JUNE (1,651,100) (549,816) (275,183)
APRIL ISSUE 6,000 6,000 3,000
JUNE ISSUE 3,000 1,000 501
------------- -------------- -------------
SHARES OF COMMON STOCK OUTSTANDING
AT JUNE 30, 1999 67,991,892 69,798,834 71,788,426
============= ============== =============
INCOME FROM CONTINUING OPERATIONS 17,000,000 26,000,000
-------------- -------------
WEIGHTED AVG SHARES OUTSTANDING 69,798,834 0.24 71,788,426 0.36
NET INCOME 48,000,000 57,000,000
-------------- -------------
WEIGHTED AVG SHARES OUTSTANDING 69,798,834 0.69 71,788,426 0.79
SHARES OF COMMON STOCK OUTSTANDING
AT DECEMBER 31, 1999 66,508,567 66,508,567 66,508,567
SHARE REPURCHASE
MARCH (1,382,300) (1,382,300) (921,533)
APRIL (100,000) (100,000) (50,000)
MAY (853,000) (568,667) (284,333)
JUNE (1,164,700) (388,233) (194,117)
SHARES ISSUED
JANUARY 10,594 10,594 10,594
FEBRUARY 220,378 220,378 183,648
MAY 5,000 3,333 2,000
------------- -------------- -------------
SHARES OF COMMON STOCK OUTSTANDING
AT JUNE 30, 2000 63,244,539 64,303,672 65,254,826
============= ============== =============
INCOME FROM CONTINUING OPERATIONS 47,904,000 72,979,000
-------------- -------------
WEIGHTED AVG SHARES OUTSTANDING 64,303,672 0.75 65,254,826 1.12
NET INCOME 47,904,000 72,979,000
-------------- -------------
WEIGHTED AVG SHARES OUTSTANDING 64,303,672 0.75 65,254,826 1.12
<PAGE>
DILUTED WEIGHTED AVERAGE # SHARES
----------------------------------- ----------------------------------
YEAR
SHARES QUARTER EPS TO DATE EPS
------------- -------------- --- ------------- ---
<S> <C> <C> <C> <C> <C>
SHARES OF COMMON STOCK OUTSTANDING
AT DECEMBER 31, 1998 75,170,692 75,170,692 75,170,692
SHARE REPURCHASE:
JANUARY (82,800) (82,800) (82,800)
FEBRUARY (1,240,300) (1,240,300) (1,033,583)
MARCH (1,449,500) (1,449,500) (966,333)
APRIL (639,000) (639,000) (319,500)
MAY (2,125,100) (1,417,442) (708,367)
JUNE (1,651,100) (549,816) (275,183)
APRIL ISSUE 6,000 6,000 3,000
JUNE ISSUE 3,000 1,000 501
OPTIONS 543,000 93,996 45,620
TIME VESTED RESTRICTED STOCK 614,328 414,886 384,477
PERFORMANCE BASED RESTRICTED STOCK 1,842,982 173,424 155,530
------------- -------------- -------------
SHARES OF COMMON STOCK OUTSTANDING
AT JUNE 30, 1999 70,992,202 70,481,140 72,374,053
============= ============== =============
INCOME FROM CONTINUING OPERATIONS 17,000,000 26,000,000
-------------- -------------
WEIGHTED AVG SHARES OUTSTANDING 70,481,140 0.24 72,374,053 0.36
NET INCOME 48,000,000 57,000,000
-------------- -------------
WEIGHTED AVG SHARES OUTSTANDING 70,481,140 0.68 72,374,053 0.79
SHARES OF COMMON STOCK OUTSTANDING
AT DECEMBER 31, 1999 66,508,567 66,508,567 66,508,567
SHARE REPURCHASE
MARCH (1,382,300) (1,382,300) (921,533)
APRIL (100,000) (100,000) (50,000)
MAY (853,000) (568,667) (284,333)
JUNE (1,164,700) (388,233) (194,117)
SHARES ISSUED
JANUARY 10,594 10,594 10,594
FEBRUARY 220,378 220,378 183,648
MAY 5,000 3,333 2,000
OPTIONS 592,000 197 22
TIME VESTED RESTRICTED STOCK 608,624 477,693 473,467
PERFORMANCE BASED RESTRICTED STOCK 241,542 181,366 179,169
------------- -------------- -------------
SHARES OF COMMON STOCK OUTSTANDING
AT JUNE 30, 2000 64,686,705 64,962,928 65,907,484
============= ============== =============
INCOME FROM CONTINUING OPERATIONS 47,904,000 72,979,000
-------------- -------------
WEIGHTED AVG SHARES OUTSTANDING 64,962,928 0.74 65,907,484 1.11
NET INCOME 47,904,000 72,979,000
-------------- -------------
WEIGHTED AVG SHARES OUTSTANDING 64,962,928 0.74 65,907,484 1.11
</TABLE>
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