COUNTRYWIDE CREDIT INDUSTRIES, INC. AND SUBSIDIARIES
EXHIBIT 11.1 - STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
Year ended February 28,
(Dollar amounts in thousands, except per share data)
1999 1998 1997
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BASIC
Net earnings $385,401 $344,983 $257,358
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Total average shares 111,414 107,491 103,112
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Per share amount $3.46 $3.21 $2.50
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DILUTED
Net earnings $385,401 $344,983 $257,358
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Average shares outstanding 111,414 107,491 103,112
Net effect of dilutive stock options -- based on the treasury
stock method using the year-end market price, if higher
than average market price 5,631 4,035 2,565
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Total average shares 117,045 111,526 105,677
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Per share amount $3.29 $3.09 $2.44
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