EX-11.1 3 ex111.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, 2001 AND 2000 (Dollars in thousands)
Three Months Ended Six Months Ended June 30, June 30, -------------------------- -------------------------- 2001 2000 2001 2000 -------------------------- -------------------------- Net Income (Numerator) $ 57,291 $ 38,729 $ 107,421 $ 87,287 =========== =========== =========== =========== Weighted average common and effect of dilutive shares used in the computation of net income per share: Average shares outstanding - basic (denominator) 46,140,713 45,820,057 46,100,295 45,854,375 Effect of dilutive shares: Options outstanding 892,501 303,846 907,078 209,766 Options exercised 39,964 171 31,624 387 Options cancelled 14,255 960 7,125 504 ----------- ----------- ----------- ----------- Average share outstanding - diluted (denominator) 47,087,433 46,125,034 47,046,122 46,065,032 Net Income per common share: Basic $ 1.24 $ 0.85 $ 2.33 $ 1.90 Diluted $ 1.22 $ 0.84 $ 2.28 $ 1.89