Exhibit 11.1
GREAT WESTERN FINANCIAL CORPORATION
Computation of Net Income Per Common Share
Primary and Fully Diluted
Three Months Ended Six Months Ended
June 30 June 30
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(Dollars in thousands) 1995 1994 1995 1994
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Net income $50,436 $55,855 $ 93,920 $105,330
Preferred stock dividends - convertible
and nonconvertible (6,254) (6,254) (12,508) (12,508)
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Net income for computing earnings per
Common share - primary 44,182 49,601 81,412 92,822
Preferred stock dividends - convertible - 2,830 - 5,660
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Net income for computing earnings per
Common share - fully diluted $44,182 $52,431 $ 81,412 $ 98,482
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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 Six Months Ended
June 30 June 30
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1995 1994 1995 1994
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Average number of Common shares outstanding
during each period - without dilution 135,360 133,059 134,948 132,919
Common share equivalents outstanding at
the end of each period 1,387 457 928 525
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Average number of Common shares and Common
share equivalents outstanding during each
period on a primary basis 136,747 133,516 135,876 133,444
Common share equivalents outstanding at
the end of each period on a fully
diluted basis - 161 367 94
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
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Average number of Common shares outstanding
during each period on a fully diluted basis 136,747 140,019 136,243 139,880
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Net income per Common share
Primary $.32 $.38 $.60 $.70
Fully diluted .32 .38 .60 .70