EX-11 2 d35868exv11.htm STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS exv11
 

EXHIBIT 11 — COMPUTATION OF EARNINGS PER SHARE
                 
    Three Months Ended March 31,  
(In thousands of dollars, except per share data)   2006     2005  
Numerator:
               
Income before discontinued operations
  $ 96,814     $ 67,118  
Loss from discontinued operations, net
          (19,236 )
 
           
Net income
    96,814       47,882  
 
               
Effect of dilutive securities — none
           
 
           
Numerator for income before discontinued operations per common share — diluted
  $ 96,814     $ 67,118  
Numerator for discontinued operations, net per common share — diluted
          (19,236 )
 
           
Numerator for income before discontinued operations per common share — diluted
    96,814       47,882  
Denominator:
               
Weighted average common shares
    518,139       559,528  
 
               
Effect of dilutive securities:
               
Stock options and common stock warrants
    677       1,428  
 
           
Denominator for net income per common share — diluted
    518,816       560,956  
 
               
Net income (loss) per common share:
               
Income before discontinued operations — basic
  $ .19     $ .12  
Loss from discontinued operations, net — basic
          (.03 )
 
           
Basic
  $ .19     $ .09  
 
           
 
               
Income before discontinued operations — basic
  $ .19     $ .12  
Loss from discontinued operations, net — basic
          (.03 )
 
           
Diluted
  $ .19     $ .09