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 Nine Months Ended
September 30, September 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:
Earnings before cumulative effect of accounting change $ 272,998 $ 68,527 $ 390,237 $ 197,423
Less accumulated dividends on preferred stock (12,607) (12,607) (37,823) (37,823)
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Earnings attributable to common shares before
cumulative effect of accounting change 260,391 55,920 352,414 159,600
Cumulative effect of change in accounting for
goodwill - - (234,742) -
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Net earnings attributable to common shares 260,391 55,920 $ 117,672 $ 159,600
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Weighted average number of common shares outstanding 117,609,880 117,017,987 117,456,961 117,002,725
Dilutive effect of outstanding common stock equivalents 897,597 585,346 602,611 387,150
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Weighted average number of common shares as adjusted for
calculation of primary earnings per share 118,507,477 117,603,333 118,059,572 117,389,875
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Primary earnings per common share before
cumulative effect of accounting change $ 2.20 $ 0.48 $ 2.99 $ 1.36
Cumulative effect of change in accounting for goodwill - - (1.99) -
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Primary earnings per common share $ 2.20 $ 0.48 $ 1.00 $ 1.36
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Fully diluted earnings per common share:
Earnings before cumulative effect of accounting change $ 272,998 $ 68,527 $ 390,237 $ 197,423
Less accumulated dividends on convertible and
noncovertible preferred stock (8,295) (8,295) (24,885) (24,885)
----------- ----------- ----------- -----------
Earnings attributable to common shares before
cumulative effect of accounting change 264,703 60,232 365,352 172,538
Cumulative effect of change in accounting for goodwill - - (234,742) -
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Net earnings attributable to common shares $ 264,703 $ 60,232 $ 130,610 $ 172,538
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Weighted average number of common shares outstanding 117,609,880 117,017,987 117,456,961 117,002,725
Dilutive effect of outstanding common stock equivalents 12,931,499 12,404,964 12,970,508 12,407,524
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Weighted average number of common shares as adjusted
for calculation of fully diluted earnings per share 130,541,379 129,422,951 130,427,469 129,410,249
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Fully diluted earnings per common share before
cumulative effect of accounting change $ 2.03 $ 0.47 $ 2.80 $ 1.33
Cumulative effect of change in accounting for goodwill - - (1.80) -
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Fully diluted earnings per common share $ 2.03 $ 0.47 $ 1.00 $ 1.33
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