EX-11.1 2 dex111.txt COMPUTATION OF NET INCOME PER SHARE EXHIBIT 11.1 ------------ THE PMI GROUP,INC. AND SUBSIDIARIES COMPUTATION OF RESTATED NET INCOME PER SHARE(1) For the Three Months Ended March 31, 2001 and 2000 Three Months Ended March 31, ---------------------------- 2001 2000 ---------- --------- (Dollars in thousands, except per share data) Basis net income per common share: Net income $ 71,531 $ 59,990 Average common shares outstanding 44,325 44,404 --------- --------- Basic net income per common share: $ 1.61 $ 1.36 ========= ========= Net Income $ 71,531 $ 59,990 --------- --------- Average common shares outstanding 44,325 44,404 Net shares to be issued upon exercise of dilutive stock option after applying treasury stock method 777 363 --------- --------- Average shares outstanding 45,102 44,767 --------- --------- Diluted net income per common share $ 1.59 $ 1.34 ========= ========= (1) Restated to conform with Statement of Financial Accounting No. 128, Earnings per Share.