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Exhibit (11) - Statement Re: Computation of Earnings Per Share
COMPUTATION OF EARNINGS PER SHARE
Comerica Incorporated and Subsidiaries
(In thousands, except per share data)
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Three Months Ended Nine Months Ended
September 30 September 30
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2000 1999 2000 1999
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Basic:
Average shares outstanding 156,414 156,154 156,312 156,033
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Net income $191,841 $170,414 $555,108 $496,908
Less preferred stock dividends 4,275 4,275 12,825 12,825
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Net income applicable to common
stock $187,566 $166,139 $542,283 $484,083
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Basic net income per share $1.20 $1.06 $3.47 $3.10
Diluted:
Average shares outstanding 156,414 156,154 156,312 156,033
Nonvested stock 141 164 165 169
Common stock equivalent:
Net effect of the assumed
exercise of stock options 2,067 1,993 1,631 2,215
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Diluted average shares 158,622 158,311 158,108 158,417
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Net income $191,841 $170,414 $555,108 $496,908
Less preferred stock dividends 4,275 4,275 12,825 12,825
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Net income applicable to common
stock $187,566 $166,139 $542,283 $484,083
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Diluted net income per share $1.18 $1.05 $3.43 $3.06
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