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 (loss) per common share:
Earnings before cumulative effect of accounting
change $ 64,389 $ 73,541 $ 117,239 $ 128,896
Less accumulated dividends on preferred stock (12,607) (12,607) (25,215) (25,215)
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Earnings attributable to common shares before
cumulative effect of accounting change 51,782 60,934 92,024 103,681
Cumulative effect of change in accounting for
goodwill - - (234,742) -
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Net earnings (loss) attributable to common
shares $ 51,782 $ 60,934 $ (142,718) $ 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 - 275,427
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Weighted average number of common shares as
adjusted for calculation of primary
earnings (loss) per share 118,054,317 117,198,628 117,329,168 117,205,981
=========== =========== =========== ===========
Primary earnings per common share before
cumulative effect of accounting change $ 0.44 $ 0.52 $ 0.78 $ 0.88
Cumulative effect of change in accounting for
goodwill - - (2.00) -
----------- ----------- ----------- -----------
Primary earnings (loss) per common share $ 0.44 $ 0.52 $ (1.22) $ 0.88
=========== =========== =========== ===========
Fully diluted earnings (loss) per common share:
Earnings before cumulative effect of accounting
change $ 64,389 $ 73,541 $ 117,239 $ 128,896
Less accumulated dividends on convertible and
noncovertible preferred stock (8,295) (8,295) (25,215) (16,590)
----------- ----------- ----------- -----------
Earnings attributable to common shares before
cumulative effect of accounting change 56,094 65,246 92,024 112,306
Cumulative effect of change in accounting for
goodwill - - (234,742) -
----------- ----------- ----------- -----------
Net earnings (loss) attributable to common
shares $ 56,094 $ 65,246 $ (142,718) $ 112,306
=========== =========== =========== ===========
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 - 12,172,313
----------- ----------- ----------- -----------
Weighted average number of common shares as
adjusted for calculation of fully diluted
earnings (loss) per share 129,932,055 129,071,985 117,329,168 129,102,867
=========== =========== =========== ===========
Fully diluted earnings per common share before
cumulative effect of accounting change $ 0.43 $ 0.51 $ 0.78 $ 0.87
Cumulative effect of change in accounting for
goodwill - - (2.00) -
----------- ----------- ----------- -----------
Fully diluted earnings (loss) per common share $ 0.43 $ 0.51 $ (1.22) $ 0.87
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