Exhibit 11.1
COMPUTATION OF NET INCOME PER SHARE
(In millions, except share information)
For the Nine | For the Nine | For the | For the | For the | For the | For the | ||||||||||||||||||||||||||||||||||||||||||||||||||
Months Ended | Months Ended | Year Ended | Year Ended | Year Ended | Year Ended | Year Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||
October 2, 2004 | September 27, 2003 | December 31, 2003 | December 31, 2002 | December 31, 2001 | December 31, 2000 | December 31, 1999 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Basic | Diluted | Basic | Diluted | Basic | Diluted | Basic | Diluted | Basic | Diluted | Basic | Diluted | Basic | Diluted | |||||||||||||||||||||||||||||||||||||||||||
Income before cumulative effect of a change in accounting principle | $ | 299.2 | $ | 299.2 | $ | 248.1 | $ | 248.1 | $ | 380.5 | $ | 380.5 | $ | 311.5 | $ | 311.5 | $ | 26.3 | $ | 26.3 | $ | 274.7 | $ | 274.7 | $ | 257.1 | $ | 257.1 | ||||||||||||||||||||||||||||
Cumlative effect of a change in accounting principle, net of tax | — | — | — | — | — | — | 298.5 | 298.5 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Net income | $ | 299.2 | $ | 299.2 | $ | 248.1 | $ | 248.1 | $ | 380.5 | $ | 380.5 | $ | 13.0 | $ | 13.0 | $ | 26.3 | $ | 26.3 | $ | 274.7 | $ | 274.7 | $ | 257.1 | $ | 257.1 | ||||||||||||||||||||||||||||
Weighted average shares: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Common shares outstanding | 68,506,459 | 68,506,459 | 66,301,793 | 66,301,793 | 66,689,757 | 66,689,757 | 65,365,218 | 65,365,218 | 63,977,391 | 63,977,391 | 65,176,499 | 65,176,499 | 66,922,844 | 66,922,844 | ||||||||||||||||||||||||||||||||||||||||||
Exercise of stock options (1) | — | 1,684,196 | — | 1,756,233 | — | 1,843,755 | — | 1,691,921 | — | 1,327,643 | — | 664,465 | — | 820,308 | ||||||||||||||||||||||||||||||||||||||||||
Exercise of warrants (2) | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Common and equivalent shares outstanding | 68,506,459 | 70,190,655 | 66,301,793 | 68,058,026 | 66,689,757 | 68,533,512 | 65,365,218 | 67,057,139 | 63,977,391 | 65,305,034 | 65,176,499 | 65,840,964 | 66,922,844 | 67,743,152 | ||||||||||||||||||||||||||||||||||||||||||
Per common and equivalent share: | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Income before cumulative effect of a change in accounting principle | $ | 4.37 | $ | 4.26 | $ | 3.74 | $ | 3.65 | $ | 5.71 | $ | 5.55 | $ | 4.77 | $ | 4.65 | $ | 0.41 | $ | 0.40 | $ | 4.21 | $ | 4.17 | $ | 3.84 | $ | 3.80 | ||||||||||||||||||||||||||||
Cumulative effect of a change in accounting principle | — | — | — | — | — | — | 4.57 | 4.46 | — | — | — | — | — | — | ||||||||||||||||||||||||||||||||||||||||||
Net income | $ | 4.37 | $ | 4.26 | $ | 3.74 | $ | 3.65 | $ | 5.71 | $ | 5.55 | $ | 0.20 | $ | 0.19 | $ | 0.41 | $ | 0.40 | $ | 4.21 | $ | 4.17 | $ | 3.84 | $ | 3.80 | ||||||||||||||||||||||||||||
(1) | Amount represents the number of common shares issued assuming exercise of stock options outstanding, reduced by the number of shares which could have been purchased with the proceeds from the exercise of such options. | |
(2) | Amount represents the number of common shares issued assuming exercise of warrants outstanding. |