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
primary earnings per common share are stock options and stock appreciation
rights. In addition, common stock equivalents used in the determination of
fully diluted earnings per common share include the effect, when such effect
is not anti-dilutive, of the 6% Cumulative Convertible Preferred Stock,
Series D which is convertible into 11.8 million shares of 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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1995 1994 1995 1994
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(dollars in thousands, except per share data)
Primary earnings per common share:
Net earnings $ 62,234 $ 73,541 $ 112,930 $ 128,896
Less accumulated dividends on preferred stock (12,607) (12,607) (25,215) (25,215)
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Net earnings attributable to common shares $ 49,627 $ 60,934 $ 87,715 $ 103,681
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Weighted average number of common shares
outstanding 117,296,534 116,917,744 117,329,168 116,930,554
Dilutive effect of outstanding common stock
equivalents 757,783 280,884 413,779 275,427
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Weighted average number of common shares as
adjusted for calculation of primary
earnings per share 118,054,317 117,198,628 117,742,947 117,205,981
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Primary earnings per common share $ 0.42 $ 0.52 $ 0.74 $ 0.88
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Fully diluted earnings per common share:
Net earnings $ 62,234 $ 73,541 $ 112,930 $ 128,896
Less accumulated dividends on nonconvertible
preferred stock (8,295) (8,295) (16,590) (16,590)
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Net earnings attributable to common shares $ 53,939 $ 65,246 $ 96,340 $ 112,306
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Weighted average number of common shares
outstanding 117,296,534 116,917,744 117,329,168 116,930,554
Dilutive effect of outstanding common stock
equivalents 12,635,521 12,154,241 12,622,267 12,172,313
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Weighted average number of common shares as
adjusted for calculation of fully diluted
earnings per share 129,932,055 129,071,985 129,951,435 129,102,867
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Fully diluted earnings per common share $ 0.42 $ 0.51 $ 0.74 $ 0.87
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