EX-11 2 ex11.txt COMPUTATION OF PER SHARE EARNINGS 1 EXHIBIT 11 - Statement re computation of per share earnings SUIZA FOODS CORPORATION (In thousands, except share and per-share amounts)
Three Months ended Six Months ended June 30, June 30, ---------------------------- ---------------------------- 2000 1999 2000 1999 ----------- ----------- ----------- ----------- Basic EPS computation: Numerator: Income before extraordinary items $ 33,533 $ 32,147 $ 54,127 $ 53,020 ----------- ----------- ----------- ----------- Income applicable to common stock $ 33,533 $ 32,147 $ 54,127 $ 53,020 =========== =========== =========== =========== DENOMINATOR: AVERAGE COMMON SHARES 28,896,573 33,730,348 28,984,020 33,686,492 =========== =========== =========== =========== Basic EPS before extraordinary items $ 1.16 $ 0.95 $ 1.87 $ 1.57 =========== =========== =========== =========== Diluted EPS calculation: Numerator: Income before extraordinary items $ 33,533 $ 32,147 $ 54,127 $ 53,020 Net effect on earnings from conversion of mandatorily redeemable convertible preferred securities 5,331 5,981 10,671 11,962 ----------- ----------- ----------- ----------- INCOME APPLICABLE TO COMMON STOCK $ 38,864 $ 38,128 $ 64,798 $ 64,982 =========== =========== =========== =========== Denominator: Average common shares - basic 28,896,573 33,730,348 28,984,020 33,686,492 Stock option conversion 758,345 979,300 787,323 1,062,954 Dilutive effect of conversion of mandatorily redeemable convertible preferred securities 7,667,534 9,096,105 7,698,931 9,096,132 ----------- ----------- ----------- ----------- Average common shares - diluted 37,322,452 43,805,753 37,470,274 43,845,578 =========== =========== =========== =========== Diluted EPS before extraordinary items $ 1.04 $ 0.87 $ 1.73 $ 1.48 =========== =========== =========== ===========