EXHIBIT 11
Golden West Financial Corporation
Statement of Computation of Basic and Diluted Earnings Per Share
(Dollars in thousands except per share figures)
Three Months Ended Six Months Ended
June 30 June 30
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2001 2000 2001 2000
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Income before Cumulative Effect of
Accounting Change $ 208,929 $ 133,262 $ 385,008 $ 259,196
Cumulative effect of accounting change,
net of tax -0- -0- (6,018) -0-
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Net Earnings $ 208,929 $ 133,262 $ 378,990 $ 259,196
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Weighted Average Shares 158,724,536 157,999,885 158,602,033 158,979,248
Add: Options outstanding at period end 5,808,805 6,735,779 5,808,805 6,735,779
Less: Shares assumed purchased back with
proceeds of options exercised 3,565,162 5,141,709 3,639,409 5,487,657
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Diluted Average Shares Outstanding 160,968,179 159,593,955 160,771,429 160,227,370
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Basic Earnings Per Share before
Cumulative Effect of Accounting Change $ 1.32 $ .84 $ 2.43 $ 1.63
Cumulative effect of accounting change,
net of tax .00 .00 (.04) .00
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Basic Earnings Per Share $ 1.32 $ .84 $ 2.39 $ 1.63
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Diluted Earnings Per Share before
Cumulative Effect of Accounting Change $ 1.30 $ .84 $ 2.40 $ 1.62
Cumulative effect of accounting change,
net of tax .00 .00 (.04) .00
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Diluted Earnings Per Share $ 1.30 $ .84 $ 2.36 $ 1.62
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