EXHIBIT 11
OGDEN CORPORATION AND SUBSIDIARIES
DETAIL OF COMPUTATION OF EARNINGS PER SHARE APPLICABLE TO COMMON STOCK
<TABLE>
FOR THE NINE MONTHS ENDED SEPTEMBER 30,
-------------------------------------------------------------------------------------
2000 1999
------------------------------------- --------------------------------------
Loss Shares Per-Share Income Shares Per-Share
(Numerator) Denominator Amount (Numerator) Denominator Amount
----------- ----------- ------ ----------- ----------- ------
(In thousands, except per share amounts)
<S> <C> <C> <C> <C> <C> <C>
Income (loss) from continuing
operations $ (11,887) $ 28,680
Less: preferred stock dividends 50 104
--------- ---------
Basic Earnings (Loss) Per Share (11,937) 49,525 $ (0.24) 28,576 49,157 $ 0.59
-------- -------
Effect of Dilutive Securities:
Restricted stock issued to employees (A)
Stock options (A) 405
Convertible preferred stock (A) 104 249
6% convertible debentures (A) (A)
5-3/4% convertible debentures (A) (A)
--------- ---------- --------- ----------
Diluted Earnings (Loss) Per Share $ (11,937) 49,525 $ (0.24) $ 28,680 49,811 $ 0.58
--------- ---------- -------- --------- ---------- --------
(A) Anti-dilutive
NOTE: Basic earnings per common share was computed by dividing net income,
reduced by preferred stock dividend requirements, by the weighted average of the
number of shares of common stock outstanding during each period.
Diluted earnings per common share was computed on the assumption that all
convertible debentures, convertible preferred stock, restricted stock issued to
employees, and stock options converted or exercised during each period, or
outstanding at the end of each period were converted, or vested and unrestricted
in the case of restricted stock, at the beginning of each period or the date of
issuance or grant, if dilutive. The computation provides for the elimination of
related convertible debenture interest and preferred dividends.
</TABLE>
<PAGE>
EXHIBIT 11
----------
OGDEN CORPORATION AND SUBSIDIARIES
DETAIL OF COMPUTATION OF EARNINGS PER SHARE APPLICABLE TO COMMON STOCK
<TABLE>
FOR THE THREE MONTHS ENDED SEPTEMBER 30,
-------------------------------------------------------------------------------------
2000 1999
------------------------------------- --------------------------------------
Income Shares Per-Share Income Shares Per-Share
(Numerator) Denominator Amount (Numerator) Denominator Amount
----------- ----------- ------ ----------- ----------- ------
(In thousands, except per share amounts)
<S> <C> <C> <C> <C> <C> <C>
Income from continuing
operations $ 2,701 $ 8,353
Less: preferred stock dividends 16 34
--------- --------
Basic Earnings Per Share 2,685 49,544 $ 0.05 8,319 49,382 $ 0.17
-------- --------
Effect of Dilutive Securities:
Restricted stock issued to employees 81
Stock options 68 218
Convertible preferred stock (A) 34 246
6% convertible debentures (A) (A)
5-3/4% convertible debentures (A) (A)
--------- --------- --------- ----------
Diluted Earnings Per Share $ 2,685 49,693 $ 0.05 $ 8,353 49,846 $ 0.17
--------- ---------- -------- --------- ---------- --------
(A) Anti-dilutive
NOTE: Basic earnings per common share was computed by dividing net income,
reduced by preferred stock dividend requirements, by the weighted average of the
number of shares of common stock outstanding during each period.
Diluted earnings per common share was computed on the assumption that all
convertible debentures, convertible preferred stock, restricted stock issued to
employees and stock options converted or exercised during each period, or
outstanding at the end of each period were converted, or vested and unrestricted
in the case of restricted stock, at the beginning of each period or the date of
issuance or grant, if dilutive. The computation provides for the elimination of
related convertible debenture interest and preferred dividends.
</TABLE>
