EXHIBIT 11
Radian Group Inc.
Schedule of Net Income per Share
Three Months Ended June 30 | Six Months Ended June 30 | |||||||||||
(In thousands, except per-share amounts and market prices) | 2006 | 2005 | 2006 | 2005 | ||||||||
Net Income | $ | 148,145 | $ | 140,224 | $ | 311,843 | $ | 255,836 | ||||
Interest expense on convertible senior debentures (net of tax) | — | 802 | — | 1,604 | ||||||||
Net income available to common stockholders | $ | 148,145 | $ | 141,026 | $ | 311,843 | $ | 257,440 | ||||
Average diluted stock options outstanding | 4,258.4 | 5,031.7 | 4,363.4 | 5,076.2 | ||||||||
Average exercise price per share | $ | 43.18 | $ | 46.26 | $ | 43.15 | $ | 36.92 | ||||
Average market price per share—diluted basis | $ | 61.16 | $ | 47.22 | $ | 59.51 | $ | 47.68 | ||||
Average common shares outstanding | 81,921 | 85,464 | 82,355 | 87,476 | ||||||||
Increase in share due to exercise of options—diluted basis | 835 | 854 | 745 | 913 | ||||||||
Increase in shares-contingently convertible debt | — | 3,798 | — | 3,798 | ||||||||
Adjusted shares outstanding—diluted | 82,756 | 90,116 | 83,100 | 92,187 | ||||||||
Net income per share—basic | $ | 1.81 | $ | 1.64 | $ | 3.79 | $ | 2.92 | ||||
Net income per share—diluted | $ | 1.79 | $ | 1.56 | $ | 3.75 | $ | 2.79 | ||||