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Previous: KMART CORP, 10-Q, 2000-12-06 |
Next: KMART CORP, 10-Q, EX-27, 2000-12-06 |
<PAGE> 1
EXHIBIT 11
KMART CORPORATION
INFORMATION ON COMPUTATION OF EARNINGS PER SHARE
<TABLE>
<CAPTION>
($ Millions, except per share data) 13 Weeks Ended 39 Weeks Ended
------------------------------ -------------------------------
October 25, October 27, October 25, October 27,
2000 1999 2000 1999
--------------- ------------- -------------- -------------
<S> <C> <C> <C> <C>
I. Basic earnings per common share:
Net income (loss) from continuing operations $ (67) $ 27 $ (493) $ 221
Add: Discount on redemption of preferred securities, net 1 - 10 -
-------------- ------------- ------------- -------------
(a) Net income (loss) from continuing operations available
to common shareholders (66) 27 (483) 221
(b) Discontinued operations, net of income taxes - - - (230)
-------------- ------------- ------------- -------------
(c) Net income (loss) available to common shareholders $ (66) $ 27 $ (483) $ (9)
============== ============= ============= =============
(d) Basic weighted average common shares outstanding 482.1 492.1 481.9 493.8
============== ============= ============= =============
Basic earnings (loss) per common share:
Net income (loss) from continuing operations available
to common shareholders (a)/(d) $ (0.14) $ 0.05 $ (1.00) $ 0.45
Discontinued operations (b)/(d) - - - (0.46)
-------------- ------------- ------------- -------------
Net income (loss) available to common shareholders
(c)/(d) $ (0.14) $ 0.05 $ (1.00) $ (0.01)
============== ============= ============= =============
II. Diluted earnings per common share:
Net income (loss) from continuing operations available
to common shareholders $ (66) $ 27 $ (483) $ 221
Add: Dividends on outstanding trust convertible
preferred securities, net 11 13 34 38
------------- ------------- ------------ -------------
(e) Adjusted net income (loss) from continuing operations
available to common shareholders (55) 40 (449) 259
(f) Discontinued operations, net of income taxes - - - (230)
------------- ------------- ------------ -------------
(g) Adjusted net income (loss) available to common
shareholders $ (55) $ 40 $ (449) $ 29
============= ============= ============ =============
Basic weighted average common shares outstanding 482.1 492.1 481.9 493.8
Weighted average of outstanding trust convertible
preferred securities 59.9 66.7 59.9 66.7
Weighted average of redeemed trust convertible
preferred securities 0.3 - 1.4 -
Dilutive effect of stock options - 3.4 0.3 6.0
Dilutive effect of written put options - - 0.5 -
------------- ------------- ------------ -------------
(h) Diluted weighted average common shares outstanding 542.3 562.2 544.0 566.5
============= ============= ============ =============
Diluted earnings (loss) per common share:
Adjusted net income (loss) from continuing operations
available to common shareholders (e)/(h) $ (0.10) $ 0.07 $ (0.83) $ 0.46
Discontinued operations (f)/(h) - - - (0.41)
------------- ------------- ------------ -------------
Adjusted net income (loss) available to common
shareholders (g)/(h) $ (0.10) $ 0.07 $ (0.83) $ 0.05
============= ============= ============ =============
(1) (1) (1) (1)
</TABLE>
(1)This calculation is submitted in accordance with Regulation S-K item 601(b)
(11) although it is contrary to paragraph 13 of SFAS 128 because it produces
an anti-dilutive result.
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