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 Nine Months Ended
September 30 September 30
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1999 1998 1999 1998
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Earnings Before Extraordinary Item $ 118,071 $ 108,021 $ 360,826 $ 335,052
Extraordinary Item, Net of Tax -0- (4,801) -0- (12,511)
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Net Earnings $ 118,071 $ 103,220 $ 360,826 $ 322,541
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Weighted Average Shares 54,698,032 57,562,090 55,715,591 57,343,932
Add: Options outstanding at period end 2,075,650 1,836,505 2,075,650 1,836,505
Less: Shares assumed purchased back with
proceeds of options exercised 1,610,622 1,215,753 1,614,901 1,183,361
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Diluted Average Shares Outstanding 55,163,060 58,182,842 56,176,340 57,997,076
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Basic Earnings Per Share Calculation:
Basic Earnings Per Share Before Extraordinary Item $ 2.16 $ 1.87 $ 6.48 $ 5.84
Extraordinary Item, Net of Tax 0.00 (.08) 0.00 (.22)
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Basic Earnings Per Share $ 2.16 $ 1.79 $ 6.48 $ 5.62
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Diluted Earnings Per Share Calculation:
Diluted Earnings Per Share Before Extraordinary Item $ 2.14 $ 1.85 $ 6.42 $ 5.78
Extraordinary Item, Net of Tax 0.00 (.08) 0.00 (.22)
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Diluted Earnings Per Share $ 2.14 $ 1.77 $ 6.42 $ 5.56
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