EX-11.1 7 k61656ex11-1.txt COMPUTATION OF NET INCOME PER SHARE 1 EXHIBIT 11.1 COMPUTATION OF NET INCOME PER SHARE (IN MILLIONS, EXCEPT SHARE INFORMATION)
FOR THE YEAR ENDED FOR THE YEAR ENDED FOR THE YEAR ENDED DECEMBER 31, 2000 DECEMBER 31, 1999 DECEMBER 31, 1998 BASIC DILUTED BASIC DILUTED BASIC DILUTED Income before extraordinary items $ 274.7 $ 274.7 $ 257.1 $ 257.1 $ 111.5 $ 115.5 Extraordinary items - - - - - - Net income $ 274.7 $ 274.7 $ 257.1 $ 257.1 $ 115.5 $ 115.5 =========== ============ =========== ============ =========== =========== Weighted average shares: Common shares outstanding 65,176,499 65,176,499 66,922,844 66,922,844 66,947,135 66,947,135 Exercise of stock options (1) - 664.465 - 820,308 - 1,076,240 Exercise of warrants (2) - - - - - - Common and equivalent shares outstanding 65,176,499 65,840,964 66,922,844 67,743,152 66,947,135 68,023,375 =========== ============ =========== ============ =========== =========== Per common and equivalent share: Income before extraordinary items $ 4.21 $ 4.17 $ 3.84 $ 3.80 $ 1.73 $ 1.70 Extraordinary items - - - - - - Net income $ 4.21 $ 4.17 $ 3.84 $ 3.80 $ 1.73 $ 1.70 =========== ============ =========== ============ =========== ===========
[Additional columns below] [Continued from above table, first column(s) repeated]
FOR THE YEAR ENDED FOR THE YEAR ENDED DECEMBER 31, 1997 DECEMBER 31, 1996 BASIC DILUTED BASIC DILUTED Income before extraordinary items $ 208.2 $ 208.2 $ 151.9 $ 151.9 Extraordinary items (1.0) (1.0) - - Net income $ 207.2 $ 207.2 $ 151.9 $ 151.9 =========== ============ =========== ============ Weighted average shares: Common shares outstanding 66,304,770 66,304,770 60,485,696 60,485,696 Exercise of stock options (1) - 1,943,313 - 3,275,938 Exercise of warrants (2) - - - - Common and equivalent shares outstanding 66,304,770 68,248,083 60,485,696 63,761,634 =========== ============ =========== ============ Per common and equivalent share: Income before extraordinary items $ 3.14 $ 3.05 $ 2.51 $ 2.38 Extraordinary items (0.01) (0.01) - - Net income $ 3.13 $ 3.04 $ 2.51 $ 2.38 =========== ============ =========== ============
------------------ (1) Amount represents the number of common shares issued assuming exercise of stock options outstanding, reduced by the number of shares which could have been purchased with the proceeds from the exercise of such options. (2) Amount represents the number of common shares issued assuming exercise of warrants outstanding.