H. F. Ahmanson & Company and Subsidiaries
Statement of Computation of Earnings Per Share
Exhibit 11
Common stock equivalents identified by the Company in determining its
earnings per common share are stock options, restricted stock awards,
stock appreciation rights and the 6% Cumulative Convertible Preferred Stock,
Series D which is convertible into Common Stock at $24.335 per share of
Common Stock. The following is a summary of the calculation of earnings
per common share:
For the Three Months Ended For the Six Months Ended
June 30, June 30,
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1994 1993 1994 1993
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(dollars in thousands, except per share data)
Primary earnings (loss) per common share:
Net earnings (loss) $ 73,541 $ (290,982) $ 128,896 $ (258,126)
Less accumulated dividends on preferred stock (12,607) (8,295) (25,215) (14,497)
----------- ----------- ----------- -----------
Net earnings (loss) attributable
to common shares $ 60,934 $ (299,277) $ 103,681 $ (272,623)
=========== =========== =========== ===========
Weighted average number of common shares
outstanding 116,917,744 116,810,687 116,930,554 116,735,661
Dilutive effect of outstanding common stock
equivalents 280,884 350,947 275,427 480,014
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Weighted average number of common shares as
adjusted for calculation of primary
earnings per share 117,198,628 117,161,634 117,205,981 117,215,675
=========== =========== =========== ===========
Primary earnings (loss) per common share $ 0.52 $ (2.55) $ 0.88 $ (2.33)
=========== =========== =========== ===========
Fully diluted earnings (loss) per common share:
Net earnings (loss) $ 73,541 $ (290,982) $ 128,896 $ (258,126)
Less accumulated dividends on preferred stock (8,295) (8,295) (16,590) (14,497)
----------- ----------- ----------- -----------
Net earnings (loss) attributable
to common shares $ 65,246 $ (299,277) $ 112,306 $ (272,623)
=========== =========== =========== ===========
Weighted average number of common shares
outstanding 116,917,744 116,810,687 116,930,554 116,735,661
Dilutive effect of outstanding common stock
equivalents 12,154,241 350,947 12,172,313 480,014
----------- ----------- ----------- -----------
Weighted average number of common shares as
adjusted for calculation of fully diluted
earnings per share 129,071,985 117,161,634 129,102,867 117,215,675
=========== =========== =========== ===========
Fully diluted earnings (loss) $ 0.51 $ (2.55) $ 0.87 $ (2.33)
per common share =========== =========== =========== ===========
44