Exhibit 11.1
GREAT WESTERN FINANCIAL CORPORATION
Computation of Net Income Per Common Share
Primary and Fully Diluted
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Three Months Ended Nine Months Ended
September 30 September 30
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(Dollars in thousands) 1994 1993 1994 1993
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Net income (loss) $57,231 $(17,533) $162,560 $ 80,269
Preferred stock dividends - convertible
and nonconvertible (6,254) (6,253) (18,761) (18,761)
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Net income (loss) for computing earnings per
Common share - primary 50,977 (23,786) 143,799 61,508
Preferred stock dividends - convertible 2,830 2,830 8,490 8,490
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Net income (loss) for computing earnings per
Common share - fully diluted $53,807 $(20,956) $152,289 $ 69,998
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Computation of Average Number of
Common Shares Outstanding on Primary and Fully Diluted Basis
(In thousands, except per share amounts)
Three Months Ended Nine Months Ended
September 30 September 30
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1994 1993 1994 1993
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Average number of Common shares outstanding
during each period - without dilution 133,420 131,624 133,088 131,321
Common share equivalents outstanding at
the end of each period 881 479 590 397
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Average number of Common shares and Common
share equivalents outstanding during each
period on a primary basis 134,301 132,103 133,678 131,718
Common share equivalents outstanding at
the end of each period on a fully
diluted basis - 462 201 543
Addition from assumed conversion as of the
beginning of each period of the convertible
preferred stock outstanding at the end of
each period 6,342 6,342 6,342 6,342
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Average number of Common shares outstanding
during each period on a fully diluted basis 140,643 138,907 140,221 138,603
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Net income (loss) per Common share
Primary $.38 $(.18) $1.08 $.47
Fully diluted .38 (.18) 1.08 .47