EX-11 3 dex11.htm STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS Prepared by R.R. Donnelley Financial -- Statement re: Computation of Per Share Earnings
EXHIBIT 11—COMPUTATION OF EARNINGS PER SHARE
 
 
    
Six Months Ended
June 30,
       
Three Months Ended
June 30
  
    
2002
     
2001
       
2002
   
2001
  
    
(In thousands of dollars, except per share data)
  
Numerator:
                                    
Income (loss) before cumulative effect of a change in accounting principle
   
$
328,365
 
   
$
(546,229
)
     
$
238,036
   
$
(237,001
)
Cumulative effect of a change in accounting principle
   
 
(16,778,526
)
   
 
—
 
     
 
—
   
 
—
 
    
  
    
  
Net loss
   
 
(16,450,161
)
   
 
(546,229
)
     
 
238,036
   
 
(237,001
)
Effect of dilutive securities:
                                    
Convertible debt—2.625% issued in 1998
   
 
4,679
 
   
 
4,679
*
     
 
2,340
   
 
2,340
*
Convertible debt—1.5% issued in 1999
   
 
4,650
 
   
 
4,650
*
     
 
2,325
   
 
2,325
*
LYONS—1996 issue
   
 
—
 
   
 
(225)
*
     
 
—
   
 
(104
)*
LYONS—1998 issue
   
 
2,379
*
   
 
2,270
*
     
 
1,195
   
 
1,141
*
Less: Anti-dilutive items
   
 
(2,379
)
   
 
(11,374
)
     
 
—
   
 
(5,702
)
    
  
    
  
Numerator for net income (loss) before cumulative effect of a change in accounting principle per common share—diluted
   
$
337,694
 
   
$
(546,229
)
     
$
243,896
   
$
(237,001
)
Numerator for cumulative effect of a change in accounting principle per common share—diluted
   
 
(16,778,526
)
   
 
—
 
     
 
—
   
 
—
 
Numerator for net loss per common share—diluted
   
 
(16,440,832
)
   
 
(546,229
)
     
 
243,896
   
 
(237,001
)
Denominator:
                                    
Weighted average common shares
   
 
600,916
 
   
 
588,027
 
     
 
602,618
   
 
589,065
 
Effect of dilutive securities:
                                    
Stock options and common stock warrants
   
 
5,005
 
   
 
15,076
* **
     
 
4,795
   
 
15,163
* **
Convertible debt—2.625% issued in 1998
   
 
9,282
 
   
 
9,282
*
     
 
9,282
   
 
9,282
*
Convertible debt—1.5% issued in 1999
   
 
9,454
 
   
 
9,454
*
     
 
9,454
   
 
9,454
*
LYONS—1996 issue
   
 
—
 
   
 
3,487
* **
     
 
—
   
 
3,104
* **
LYONS—1998 issue
   
 
3,085
*
   
 
3,085
*
     
 
3,085
   
 
3,085
*
Less: Anti-dilutive items
   
 
(3,085
)
   
 
(40,384
)
     
 
—
   
 
(40,088
)
    
  
    
  
Denominator for net income (loss) per common share—diluted
   
 
624,657
 
   
 
588,027
 
     
 
629,234
   
 
589,065
 
Net income (loss) per common share:
                                    
Income (loss) before cumulative effect of a change in accounting principle—Basic
   
$
.55
 
   
$
(.93
)
     
$
.40
   
$
(.40
)
Cumulative effect of a change in accounting principle—Basic
   
$
(27.92
)
   
$
—
 
     
$
—
   
$
—
 
    
  
    
  
Net income (loss)—Basic
   
$
(27.37
)
   
$
(.93
)
     
$
.40
   
$
(.40
)
    
  
    
  
Income (loss) before cumulative effect of a change in accounting principle—Diluted
   
$
.54
 
   
$
(.93
)
     
$
.39
   
$
(.40
)
Cumulative effect of a change in accounting principle—Diluted
   
$
(26.86
)
   
$
—
 
     
$
—
   
$
—
 
    
  
    
  
Net income (loss)—Diluted
   
$
(26.32
)
   
$
(.93
)
     
$
.39
   
$
(.40
)
    
  
    
  
*
 
Denotes items that are anti-dilutive to the calculation of earnings per share.
**
 
Denotes items that are dilutive to the calculation of the June 30, 2001 restatement of earnings per share required upon the adoption of FAS 142.