EX-11.1 3 ex111.txt COMPUTATION OF EARNINGS PER SHARE EVEREST RE GROUP, LTD. COMPUTATION OF EARNINGS PER SHARE For The Three Months and Nine Months Ended September 30, 2001 and 2000 (Dollars in thousands)
Three Months Ended Nine Months Ended September 30, September 30, ------------------------ ------------------------ 2001 2000 2001 2000 ------------------------ ------------------------ Net (Loss) Income (Numerator) $ (43,765) $ 47,687 $ 63,656 $ 134,974 ========== ========== ========== ========== Weighted average common and effect of dilutive shares used in the computation of net income per share: Average shares outstanding - basic (denominator) 46,227,873 45,834,124 46,143,288 45,847,575 Effect of dilutive shares: Options outstanding 848,729 572,745 887,628 330,759 Options exercised 12,007 6,680 25,085 2,300 Options cancelled 8,490 - 7,582 524 ---------- ---------- ---------- ---------- Average share outstanding - diluted (denominator) 47,097,099 46,413,549 47,063,583 46,181,158 ---------- ---------- ---------- ---------- Weighted average common equivalent shares when anti-dilutive 46,227,873 45,834,124 46,143,288 45,847,575 ---------- ---------- ---------- ---------- Net (Loss) Income per common share: Basic $ (0.95) $ 1.04 $ 1.38 $ 2.94 Diluted $ (0.95) $ 1.03 $ 1.35 $ 2.92