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Choice
Hotels International, Inc. and Subsidiaries
The components
of total accumulated other comprehensive income in the consolidated
balance sheets are as follows:

The related
income tax effect allocated to each component of other comprehensive
income (loss) is as follows:

Below represents
the detail of other comprehensive income:

Earnings
Per Share
The Company adopted SFAS No. 128, “Earnings Per Share,” in 1997.
The following table illustrates the reconciliation of the earnings
and number of shares used in the basic and diluted earnings per
share calculations.

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