EX-11.1 3 0003.txt STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS EXHIBIT 11.1 ------------ THE PMI GROUP, INC. AND SUBSIDIARIES COMPUTATION OF RESTATED NET INCOME PER SHARE (1) Years Ended December 31, 2000, 1999 and 1998
2000 1999 1998 -------- -------- -------- (Dollars in thousands, except per share data) Basic net income per common share: Net income $260,212 $204,466 $190,360 Average common shares outstanding 44,254 44,893 47,091 -------- -------- -------- Basic net income per common share $ 5.88 $ 4.55 $ 4.04 ======== ======== ======== Diluted net income per common share: Net Income $260,212 $204,466 $190,360 -------- -------- -------- Average common shares outstanding 44,254 44,893 47,091 Net shares to be issued upon exercise of dilutive stock option after applying treasury stock method 765 351 208 -------- -------- -------- Average shares outstanding 45,019 45,244 47,299 -------- -------- -------- Diluted net income per common share $ 5.78 $ 4.52 $ 4.02 ======== ======== ========
(1) Restated to conform with Statement of Financial Accounting Standards No. 128, Earnings per Share.