COUNTRYWIDE CREDIT INDUSTRIES, INC. AND SUBSIDIARIES
EXHIBIT 11.1 - STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
Year ended February 28(29),
(Dollar amounts in thousands, except per share data)
1998 1997 1996
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BASIC
Net earnings $344,983 $257,358 $195,720
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Total average shares 107,491 103,112 98,352
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Per share amount $3.21 $2.50 $1.99
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DILUTED
Net earnings $344,983 $257,358 $195,720
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Average shares outstanding 107,491 103,112 98,352
Net effect of dilutive stock options -- based on the
treasury
stock method using the year-end market price, if higher
than average market price 4,035 2,565 1,918
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Total average shares 111,526 105,677 100,270
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Per share amount $3.09 $2.44 $1.95
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