EX-11 5 exh11_2ndqtr.txt ALEXANDER & BALDWIN EXHIBIT 11 EXHIBIT 11 ALEXANDER & BALDWIN, INC. COMPUTATION OF EARNINGS PER SHARE (In thousands, except per share amounts) --------------------------------------------------------------------------------------------------
Three Months Ended Six Months Ended June 30, June 30, 2002 2001 2002 2001 ---- ---- ---- ---- Basic Earnings Per Share ------------------------ Net income $ 13,197 $ 24,514 $ 23,004 $ 46,948 ======== ======== ======== ======== Average number of shares outstanding 41,033 40,568 40,829 40,538 ======== ======== ======== ======== Basic earnings per share $ 0.32 $ 0.60 $ 0.56 $ 1.16 ======== ======== ======== ======== Diluted Earnings Per Share -------------------------- Net income $ 13,197 $ 24,514 $ 23,004 $ 46,948 ======== ======== ======== ======== Average number of shares outstanding 41,033 40,568 40,829 40,538 Effect of assumed exercise of outstanding stock options 350 95 313 193 -------- -------- -------- -------- Average number of shares outstanding after assumed exercise of outstanding stock options 41,383 40,663 41,142 40,731 ======== ======== ======== ======== Diluted earnings per share $ 0.32 $ 0.60 $ 0.56 $ 1.15 ======== ======== ======== ========