EX-11 3 g72694ex11.txt COMPUTATION OF PER SHARE EARNINGS EXHIBIT 11 BANKATLANTIC BANCORP, INC. EARNINGS PER SHARE The following reconciles the numerators and denominators of the basic and diluted earnings per share computations.
For the Three Months Ended For the Nine Months Ended September 30, 2000 September 30, 2000 ------------------------------------------- ------------------------------------------- Class A Class B Total Class A Class B Total ------------ ------------ ------------ ------------ ------------ ------------ (In thousands, except share data and percentages) Basic Numerator Actual dividends declared $ 801 $ 113 $ 914 $ 2,402 $ 566 $ 2,968 Basic allocation of undistributed earnings from continuing operations 235 50 285 5,479 1,436 6,915 ------------ ------------ ------------ ------------ ------------ ------------ Income from continuing operations 1,036 163 1,199 7,881 2,002 9,883 Income from discontinued operations 136 29 165 336 88 424 Income from extraordinary item 3,265 701 3,966 5,894 1,538 7,432 ------------ ------------ ------------ ------------ ------------ ------------ Net income $ 4,437 $ 893 $ 5,330 $ 14,111 $ 3,628 $ 17,739 ============ ============ ============ ============ ============ ============ BASIC DENOMINATOR Weighted average shares outstanding 31,588,054 7,449,622 31,544,733 9,088,013 ============ ============ ============ ============ Allocation percentage 82.35% 17.65% 79.25% 20.75% ============ ============ ============ ============ Basic earnings per share $ 0.14 $ 0.12 $ 0.45 $ 0.40 ============ ============ ============ ============ DILUTED NUMERATOR Actual dividends declared $ 801 $ 113 $ 914 $ 2,402 $ 566 $ 2,968 ------------ ------------ ------------ ------------ ------------ ------------ Basic allocation of undistributed earnings from continuing operations 235 50 285 5,479 1,436 6,915 Reallocation of basic undistributed earnings due to change in allocation percentage (1) 1 -- 378 (378) -- ------------ ------------ ------------ ------------ ------------ ------------ Diluted allocated undistributed earnings from continuing operations 234 51 285 5,857 1,058 $ 6,915 ------------ ------------ ------------ ------------ ------------ ------------ Interest expense on convertible debt -- -- -- 3,303 597 3,900 ------------ ------------ ------------ ------------ ------------ ------------ Diluted income from continuing operations 1,035 164 1,199 11,562 2,221 13,783 Diluted income from discontinued operations 135 30 165 364 60 424 Diluted income from extraordinary item 3,250 716 3,966 6,295 1,137 7,432 ------------ ------------ ------------ ------------ ------------ ------------ Net income $ 4,420 $ 910 $ 5,330 $ 18,221 $ 3,418 $ 21,639 ============ ============ ============ ============ ============ ============ DILUTED DENOMINATOR Basic weighted average shares outstanding 31,588,054 7,449,622 31,544,733 9,088,013 Convertible debentures -- -- 16,107,909 -- Options 134,341 236,780 50,103 387,469 ------------ ------------ ------------ ------------ Diluted weighted average shares outstanding 31,722,395 7,686,402 47,702,745 9,475,482 ============ ============ ============ ============ Allocation percentage 81.95% 18.05% 84.70% 15.30% ============ ============ ============ ============ Diluted earnings per share $ 0.14 $ 0.12 $ 0.38 $ 0.36 ============ ============ ============ ============
EXHIBIT 11 BANKATLANTIC BANCORP, INC. EARNINGS PER SHARE The following reconciles the numerators and denominators of the basic and diluted earnings per share computations. (In thousands, except share data and percentages)
For the For the Three Months Nine Months Ended Ended September 30, 2001 September 30, 2000 ------------------ ------------------ BASIC EARNINGS PER SHARE $ $ Net income before cumulative effect of a change in accounting principle 5,344 20,774 Basic weighted average number of common shares outstanding $ 43,378,684 38,839,248 ------------ ---------- Basic earning per share before cumulative effect of a change in accounting principle $ 0.12 $ 0.53 ============ ============ Extraordinary item, net of taxes $ (253) $ (253) Basic weighted average number of common shares outstanding $ 43,378,684 38,839,248 ------------ ---------- Basic earning per share from cumulative effect of a change in accounting principle $ 0.00 $ 0.00 ============ ============ Cumulative effect of a change in accounting principle $ -- $ 1,138 Basic weighted average number of common shares outstanding 43,378,684 38,839,248 ------------ ---------- Basic earning per share from cumulative effect of a change in accounting principle $ -- $ 0.03 ============ ============ Net income $ 5,091 $ 21,659 Basic weighted average number of common shares outstanding $ 43,378,684 $ 38,839,248 ------------ ---------- Basic earnings per share $ 0.12 $ 0.56 ============ ============ DILUTED EARNINGS PER SHARE Net income before cumulative effect of a change in accounting principle $ 5,344 $ 20,774 Interest expense on convertible debentures 902 2,954 ------------ ---------- Income available after assumed conversion $ 6,246 $ 23,728 ------------ ---------- Basic weighted average shares outstanding 43,378,684 38,839,248 Convertible debentures 11,207,694 12,439,462 Options 2,422,698 1,731,961 ------------ ---------- Diluted weighted average shares outstanding 57,009,076 53,010,671 ------------ ---------- Diluted earnings per share before cumulative effect of a change in accounting principle $ 0.11 $ 0.45 ============ ============ Extraordinary item, net of taxes $ (253) $ (253) Diluted weighted average shares outstanding 57,009,076 53,010,671 ------------ ---------- Diluted earnings per share before cumulative effect of a change in accounting principle $ (0.00) $ (0.01) ============ ============ Cumulative effect of a change in accounting principle $ -- $ 1,138 Diluted earnings per share before cumulative effect of a change in accounting principle $ 57,009,076 53,010,671 ------------ ---------- Diluted earnings per share from cumulative effect of a change in accounting principle $ -- $ 0.02 ============ ============ Income available after assumed conversion $ 5,993 $ 24,613 Diluted weighted average shares outstanding $ 57,009,076 53,010,671 ------------ ---------- Diluted earnings per share $ 0.11 $ 0.46 ============ ============
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