Exhibit 11
EXHIBIT 11 — COMPUTATION OF EARNINGS PER SHARE
Six Months ended June 30, | Three Months ended June 30, | |||||||||||||||
(In thousands, except per share data) | 2008 | 2007 | 2008 | 2007 | ||||||||||||
Basic Numerator: | ||||||||||||||||
Income before discontinued operations | $ | 438,686 | $ | 311,026 | $ | 277,295 | $ | 215,893 | ||||||||
Income from discontinued operations, net | 643,294 | 27,186 | 5,032 | 20,097 | ||||||||||||
Net income — basic | $ | 1,081,980 | $ | 338,212 | $ | 282,327 | $ | 235,990 | ||||||||
Diluted Numerator: | ||||||||||||||||
Income before discontinued operations | $ | 438,686 | $ | 311,026 | $ | 277,295 | $ | 215,893 | ||||||||
Income from discontinued operations, net | 643,294 | 27,186 | 5,032 | 20,097 | ||||||||||||
Net income — diluted | $ | 1,081,980 | $ | 338,212 | $ | 282,327 | $ | 235,990 | ||||||||
Denominator: | ||||||||||||||||
Weighted average common shares - basic | 494,975 | 494,105 | 495,201 | 494,364 | ||||||||||||
Effect of dilutive securities: | ||||||||||||||||
Stock options and restricted stock | 1,662 | 1,175 | 1,686 | 1,324 | ||||||||||||
Denominator for net income per common share — diluted | 496,637 | 495,280 | 496,887 | 495,688 | ||||||||||||
Net income (loss) per common share: | ||||||||||||||||
Income before discontinued operations — basic | $ | .89 | $ | .63 | $ | .56 | $ | .44 | ||||||||
Income from discontinued operations, net — basic | 1.30 | .05 | .01 | .04 | ||||||||||||
Basic | $ | 2.19 | $ | .68 | $ | .57 | $ | .48 | ||||||||
Income before discontinued operations — diluted | $ | .88 | $ | .63 | $ | .56 | $ | .44 | ||||||||
Income from discontinued operations, net — diluted | 1.30 | .05 | .01 | .04 | ||||||||||||
Diluted | $ | 2.18 | $ | .68 | $ | .57 | $ | .48 | ||||||||