EX-11.1 4 0004.txt COMPUTATION OF NET INCOME PER SHARE EXHIBIT 11.1 ------------ THE PMI GROUP, INC. AND SUBSIDIARIES COMPUTATION OF RESTATED NET INCOME PER SHARE /(1)/
Three Months Ended Six Months Ended June 30, June 30, ------------------------- -------------------------- (In thousands, except for per share data) 2000 1999 2000 1999 ------- ------- -------- ------- Basic net income per common share: Net income $64,979 $49,459 $124,969 $93,111 ======= ======= ======== ======= Average common shares outstanding 44,094 44,887 44,249 45,058 ======= ======= ======== ======= Basic net income per common share $ 1.47 $ 1.10 $ 2.82 $ 2.07 ======= ======= ======== ======= Diluted net income per common share: Net income $64,979 $49,459 $124,969 $93,111 ======= ======= ======== ======= Average common shares outstanding 44,094 44,887 44,249 45,058 Net shares to be issued upon exercise of dilutive stock options after applying treasury stock method 642 283 500 190 ======= ======= ======== ======= Average shares outstanding 44,736 45,170 44,749 45,248 ------- ------- -------- ------- Diluted net income per common share $ 1.45 $ 1.09 $ 2.79 $ 2.06 ======= ======= ======== =======
(1) Restated to conform with Statement of Financial Accounting Standards No. 128, Earnings per Share.