EX-11 9 d13446exv11.txt STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS . . . EXHIBIT 11 -- Computation of Per Share Earnings
(In thousands, except per share data) 2003 2002 2001 ------------ ------------ ------------ NUMERATOR: Income (loss) before cumulative effect of a change in accounting principle $ 1,145,591 $ 724,823 $ (1,144,026) Cumulative effect of a change in accounting principle -- (16,778,526) -- ------------ ------------ ------------ Net income (loss) 1,145,591 (16,053,703) (1,144,026) Effect of dilutive securities: Convertible debt -- 2.625% issued in 1998 2,106 8,931 9,358 * Convertible debt -- 1.5% issued in 1999 -- 7,704 9,300 * LYONS -- 1996 issue -- -- (225) * LYONS -- 1998 issue 1,446 4,815 * 4,594 * Less: Anti-dilutive items -- (4,815) (23,027) ------------ ------------ ------------ Numerator for net income (loss) before cumulative effect of a change in accounting principle per common share - diluted 1,149,143 741,458 (1,144,026) Numerator for cumulative effect of a change in accounting principle per common share - diluted -- (16,778,526) -- ------------ ------------ ------------ Numerator for net income (loss) per common share - diluted $ 1,149,143 $(16,037,068) $ (1,144,026) ============ ============ ============ DENOMINATOR: Weighted average common shares 614,651 606,861 591,965 Effect of dilutive securities: Stock options and common stock warrants 3,167 3,911 11,731 * Convertible debt -- 2.625% issued in 1998 2,060 8,855 9,282 * Convertible debt -- 1.5% issued in 1999 -- 7,813 9,454 * LYONS -- 1996 issue -- -- 1,743 * LYONS -- 1998 issue 892 3,085 * 3,085 * Less: Anti-dilutive items -- (3,085) (35,295) ------------ ------------ ------------ Denominator for net income (loss) per common share - diluted 620,770 627,440 591,965 ============ ============ ============ Net income (loss) per common share: Income (loss) before cumulative effect of a change in accounting principle - Basic $ 1.86 $ 1.20 $ (1.93) Cumulative effect of a change in accounting principle - Basic -- (27.65) -- ------------ ------------ ------------ Net income (loss) - Basic $ 1.86 $ (26.45) $ (1.93) ============ ============ ============ Income (loss) before cumulative effect of a change in accounting principle - Diluted $ 1.85 $ 1.18 $ (1.93) Cumulative effect of a change in accounting principle - Diluted -- (26.74) -- ------------ ------------ ------------ Net income (loss) - Diluted $ 1.85 $ (25.56) $ (1.93) ============ ============ ============
* Denotes items that are anti-dilutive to the calculation of earnings per share.