EX-11 3 k62664ex11.txt STATEMENT RE COMPUTATION OF PER SHARE EARNINGS 1 EXHIBIT 11 KMART CORPORATION INFORMATION ON COMPUTATION OF EARNINGS PER SHARE
($ Millions, except per share data) 13 Weeks Ended ----------------------------------------- May 2, April 26, 2001 2000 ----------------- ------------------ I. Basic earnings per common share: Net income (loss) $ (25) $ 22 Add: Discount on redemption of preferred securities, net - 9 ----------------- --------------- (a) Adjusted net income (loss) available to common shareholders (1) $ (25) $ 31 (b) Basic weighted average common shares outstanding 488.5 481.3 ================= =============== Basic earnings (loss) per common share: (a)/(b) $ (0.05) $ 0.06 ================= =============== II. Diluted earnings per common share: Net income (loss) $ (25) $ 31 Add: Dividends on outstanding trust convertible preferred securities, net 11 11 ----------------- --------------- (c) Adjusted income (loss) available to common shareholders (1) $ (14) $ 42 ================= =============== Basic weighted average common shares outstanding 488.5 481.3 Weighted average of outstanding trust convertible preferred securities 59.9 60.2 Weighted average of redeemed trust convertible preferred securities - 3.1 Dilutive effect of stock options 4.2 0.6 Dilutive effect of written put options - 0.7 ----------------- --------------- (d) Diluted weighted average common shares outstanding 552.6 545.9 ================= =============== Diluted earnings (loss) per common share: (c)/(d) $ (0.03) $ 0.08 ================= =============== (2) (2)
(1) Adjusted net income (loss) included an after tax provision of $15 million or $0.03 per share for fiscal 2001 for employee severances and voluntary early retirement program. (2) 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.