Exhibit 11 - COMPUTATION OF PER SHARE EARNINGS (Thousands of dollars, except per share data)
Nine Months Ended Sept. 30 Three Months Ended Sept. 30 2001 2000 2001 2000 ---------- ---------- ----------- -----------
BASIC Average shares outstanding 59,979,699 60,733,288 59,958,690 60,283,189 Net (loss) income $(42,884) $44,965 $(30,532) $ 7,685
Per share amount $(0.71) $0.74 $(0.51) $0.13 ===== ===== ===== =====
DILUTED Average shares outstanding 59,979,699 60,733,288 59,958,690 60,283,189
Effect of dilutive securities based on the treasury stock method using the average market price if higher than the exercise price 177,079 180,954 127,972 139,572 ---------- ---------- ---------- ---------- 60,156,778 60,914,242 60,086,662 60,422,761 Net income $(42,884) $44,965 $(30,532) $ 7,685
Per share amount $(0.71) $0.74 $(0.51) $0.13 ===== ===== ===== =====