EXHIBIT 11
Radian Group Inc.
Schedule of Net Income per Share
Three Months Ended September 30 | Nine Months Ended September 30 | |||||||||||
(In thousands, except per-share amounts and market prices) | 2006 | 2005 | 2006 | 2005 | ||||||||
Net Income | $ | 111,959 | $ | 162,557 | $ | 423,802 | $ | 418,393 | ||||
Interest expense on convertible senior debentures (net of tax) | — | 267 | — | 1,871 | ||||||||
Net income available to common stockholders | $ | 111,959 | $ | 162,824 | $ | 423,802 | $ | 420,264 | ||||
Average diluted stock options outstanding | 4,013.3 | 4,383.8 | 4,246.7 | 4,845.4 | ||||||||
Average exercise price per share | $ | 43.61 | $ | 38.17 | $ | 43.30 | $ | 37.34 | ||||
Average market price per share—diluted basis | $ | 61.13 | $ | 48.80 | $ | 60.05 | $ | 48.80 | ||||
Average common shares outstanding | 81,233 | 84,567 | 81,995 | 86,507 | ||||||||
Increase in share due to exercise of options—diluted basis | 817 | 860 | 754 | 895 | ||||||||
Increase in shares-contingently convertible debt | — | 1,266 | — | 2,954 | ||||||||
Adjusted shares outstanding—diluted | 82,050 | 86,693 | 82,749 | 90,356 | ||||||||
Net income per share—basic | $ | 1.38 | $ | 1.92 | $ | 5.17 | $ | 4.84 | ||||
Net income per share—diluted | $ | 1.36 | $ | 1.88 | $ | 5.12 | $ | 4.65 | ||||