Exhibit 11 | ||||||||||||||||
MGIC INVESTMENT CORPORATION AND SUBSIDIARIES | ||||||||||||||||
STATEMENT RE COMPUTATION OF NET INCOME (LOSS) PER SHARE | ||||||||||||||||
Three and Six Months Ended June 30, 2010 and 2009 | ||||||||||||||||
Three Months Ended | Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2010 | 2009 | 2010 | 2009 | |||||||||||||
(In thousands of dollars) | ||||||||||||||||
BASIC EARNINGS PER SHARE | ||||||||||||||||
Average common shares outstanding | 181,267 | 124,244 | 152,344 | 124,122 | ||||||||||||
Net Income (loss) | $ | 24,551 | $ | (339,835 | ) | $ | (125,540 | ) | $ | (524,395 | ) | |||||
Basic earnings (loss) per share | $ | 0.14 | $ | (2.74 | ) | $ | (0.82 | ) | $ | (4.22 | ) | |||||
DILUTED EARNINGS PER SHARE | ||||||||||||||||
Adjusted weighted average shares outstanding: | ||||||||||||||||
Average common shares outstanding | 181,267 | 124,244 | 152,344 | 124,122 | ||||||||||||
Common stock equivalents | 889 | - | - | - | ||||||||||||
Adjusted weighted average diluted shares outstanding (1) | 182,156 | 124,244 | 152,344 | 124,122 | ||||||||||||
Net income (loss) | $ | 24,551 | $ | (339,835 | ) | $ | (125,540 | ) | $ | (524,395 | ) | |||||
Diluted earnings (loss) per share | $ | 0.13 | $ | (2.74 | ) | $ | (0.82 | ) | $ | (4.22 | ) |
(1) Under current accounting guidance for the six months ended June 30, 2010 and the three and six months ended June 30, 2009, the diluted weighted-average shares are equivalent to the basic weighted average shares due to a net loss from continuing operations.