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
(loss) per common share:
For the Three Months Ended For the Nine Months Ended
September 30, September 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) $ 68,527 $ 69,989 $ 197,423 $ (188,137)
Less accumulated dividends on preferred stock (12,607) (11,026) (37,823) (25,523)
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Net earnings (loss) attributable
to common shares $ 55,920 $ 58,963 $ 159,600 $ (213,660)
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Weighted average number of common shares
outstanding 117,017,987 116,844,773 117,002,725 116,764,172
Dilutive effect of outstanding common stock
equivalents 585,346 430,910 387,150 469,916
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Weighted average number of common shares as
adjusted for calculation of primary
earnings per share 117,603,333 117,275,683 117,389,875 117,234,088
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Primary earnings (loss) per common share $ 0.48 $ 0.50 $ 1.36 $ (1.82)
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Fully diluted earnings (loss) per common share:
Net earnings (loss) $ 68,527 $ 69,989 $ 197,423 $ (188,137)
Less accumulated dividends on preferred stock (8,295) (8,295) (24,885) (25,523)
----------- ----------- ----------- -----------
Net earnings (loss) attributable
to common shares $ 60,232 $ 61,694 $ 172,538 $ (213,660)
=========== =========== =========== ===========
Weighted average number of common shares
outstanding 117,017,987 116,844,773 117,002,725 116,764,172
Dilutive effect of outstanding common stock
equivalents 12,404,964 7,788,407 12,407,524 469,916
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Weighted average number of common shares as
adjusted for calculation of fully diluted
earnings per share 129,422,951 124,633,180 129,410,249 117,234,088
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Fully diluted earnings (loss) $ 0.47 $ 0.50 $ 1.33 $ (1.82)
per common share =========== =========== =========== ===========