<PAGE>
 
<TABLE>
<CAPTION>
Exhibit 11b


                             AMERITECH CORPORATION
                COMPUTATION OF FULLY DILUTED EARNINGS PER SHARE


                                                  1995            1994              1993
                                                  ----            ----              ----        
<S>                                          <C>             <C>               <C>
Net Income (Loss) after
extraordinary item                           $2,007,635,000  ($1,063,613,000)  $1,512,798,000
                                             ==============  ===============   ==============

Weighted average number of                      553,621,693      549,238,304      544,076,354
shares outstanding                             

Additional dilutive effect of
outstanding options (as determined
by the application of the treasury
stock method)                                     9,204,776        1,606,099        1,503,542
                                             --------------  ---------------   --------------

Weighted average shares outstanding
on which fully diluted earnings
per share are based                             562,826,469      550,844,403      545,579,896
                                                
Fully diluted earnings per share                      $3.57           ($1.93)           $2.77
                                             ==============  ===============   ==============
</TABLE>

This calculation is submitted in accordance with Regulation S-K, Item 601 (b)11,
although not required by footnote 2 to paragraph 14 of Accounting Principles
Board opinion No. 15 because it results in dilution of less than three percent.

Note:  All share amounts have been restated for two-for-one stock split
       effective December 31, 1993.
<PAGE>
 

Exhibit 11b

<TABLE>
<CAPTION>
                             Ameritech Corporation
                Computation of Fully Diluted Earnings Per Share


                                            1995            1994            1993
                                            ----            ----            ----
<S>                                    <C>             <C>             <C>
Income before extraordinary item       $2,007,635,000  $1,170,426,000  $1,512,798,000
                                       ==============  ==============  ==============
Weighted average number of             
shares outstanding                        553,621,693     549,238,304     544,076,354
                                       
Additional dilutive effect of          
outstanding options (as determined     
by the application of the treasury     
stock method)                               9,204,776       1,606,099       1,503,542
                                       --------------  --------------  --------------
                                       
Weighted average shares outstanding    
on which fully diluted earnings        
per share are based                       562,826,469     550,844,403     545,579,896
                                       
Fully diluted earnings per share                $3.57           $2.12           $2.77
                                       ==============  ==============  ==============
</TABLE>

This calculation is submitted in accordance with Regulation S-K, Item 601 (b)11,
although not required by footnote 2 to paragraph 14 of Accounting Principles
Board opinion No. 15 because it results in dilution of less than three percent.
Accordingly, reported EPS does not consider dilutive securities.

Note:  All share amounts have been restated for two-for-one stock split
       effective December 31, 1993.