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:
Three Months Ended March 31,
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1995 1994
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(dollars in thousands,
except per share data)
Primary earnings (loss) per common share:
Earnings before cumulative effect of accounting change $ 52,850 $ 55,355
Less accumulated dividends on preferred stock (12,608) (12,607)
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Earnings attributable to common shares before cumulative
effect of accounting change $ 40,242 $ 42,748
Cumulative effect of change in accounting for goodwill (234,742) -
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Net earnings (loss) attributable to common shares $ (194,500) $ 42,748
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Weighted average number of common shares outstanding 117,143,614 116,902,483
Dilutive effect of outstanding common stock equivalents - 259,821
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Weighted average number of common shares as adjusted for
calculation of primary earnings (loss) per share 117,143,614 117,162,304
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Primary earnings per common share before cumulative effect
of accounting change $ 0.34 $ 0.36
Cumulative effect of change in accounting for goodwill (2.00) -
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Primary earnings (loss) per common share $ (1.66) $ 0.36
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Fully diluted earnings (loss) per common share:
Earnings before cumulative effect of accounting change $ 52,850 $ 55,355
Less accumulated dividends on preferred stock (12,608) (8,295)
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Earnings attributable to common shares before cumulative
effect of accounting change $ 40,242 $ 47,060
Cumulative effect of change in accounting for goodwill (234,742) -
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Net earnings (loss) attributable to common shares $ (194,500) $ 47,060
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Weighted average number of common shares outstanding 117,143,614 116,902,483
Dilutive effect of outstanding common stock equivalents - 12,074,059
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Weighted average number of common shares as adjusted for
calculation of fully diluted earnings (loss) per share 117,143,614 128,976,542
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Fully diluted earnings per common share before cumulative
effect of accounting change $ 0.34 $ 0.36
Cumulative effect of change in accounting for goodwill (2.00) -
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Fully diluted earnings (loss) per common share $ (1.66) $ 0.36
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