EX-11.1 3 0003.txt COMPUTATION OF EARNINGS PER SHARE Exhibit 11.1 EVEREST RE GROUP, LTD. COMPUTATION OF EARNINGS PER SHARE For The Three Months and Six Months Ended June 30, 2000 and 1999 (Dollars in thousands)
Three Months Ended Six Months Ended June 30, June 30, ----------------------------------------------------- 2000 1999 2000 1999 ------------------------- ------------------------- Net Income (Numerator) $ 38,729 $ 38,065 $ 87,287 $ 79,307 =========== =========== =========== =========== Weighted average common and effect of dilutive shares used in the computation of net income per share: Average shares outstanding - basic (denominator) 45,820,057 48,678,533 45,854,375 49,237,702 Effect of dilutive shares: Options outstanding 303,846 218,645 209,766 220,489 Options exercised 171 - 387 483 Options cancelled 960 18 504 9 ----------- ----------- ----------- ----------- Average share outstanding - diluted (denominator) 46,125,034 48,897,196 46,065,032 49,458,683 Net Income per common share: Basic $ 0.85 $ 0.78 $ 1.90 $ 1.61 Diluted 0.84 0.78 1.89 1.60