H. F. Ahmanson & Company and Subsidiaries
Statement of Computation of Income Per Share
Exhibit 11
Common stock equivalents identified by the Company in determining its
primary income per common share are stock options and stock appreciation
rights. In addition, common stock equivalents used in the determination of
fully diluted income 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 income per common share:
For the Three Months Ended For the Six Months Ended
June 30, June 30,
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1996 1995 1996 1995
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(dollars in thousands, except per share data)
Primary income (loss) per common share:
Income before cumulative effect of accounting
change $ 68,734 $ 64,389 $ 133,489 $ 117,239
Less accumulated dividends on preferred stock (12,607) (12,607) (25,215) (25,215)
----------- ----------- ----------- -----------
Income attributable to common shares before
cumulative effect of accounting change 56,127 51,782 108,274 92,024
Cumulative effect of change in accounting for
goodwill - - - (234,742)
----------- ----------- ----------- -----------
Net income (loss) attributable to common
shares $ 56,127 $ 51,782 $ 108,274 $ (142,718)
=========== =========== =========== ===========
Weighted average number of common shares
outstanding 109,117,915 117,296,534 115,586,508 117,329,168
Dilutive effect of outstanding common stock
equivalents 898,298 757,783 846,250 -
----------- ----------- ----------- -----------
Weighted average number of common shares as
adjusted for calculation of primary
income (loss) per share 110,016,213 118,054,317 112,432,758 117,329,168
=========== =========== =========== ===========
Primary income per common share before
cumulative effect of accounting change $ 0.51 $ 0.44 $ 0.96 $ 0.78
Cumulative effect of change in accounting for
goodwill - - - (2.00)
----------- ----------- ----------- -----------
Primary income (loss) per common share $ 0.51 $ 0.44 $ 0.96 $ (1.22)
=========== ============ ============ ============
Fully diluted income (loss) per common share:
Income before cumulative effect of accounting
change $ 68,734 $ 64,389 $ 133,489 $ 117,239
Less accumulated dividends on preferred
stock (8,295) (8,295) (16,590) (25,215)
----------- ----------- ----------- -----------
Income attributable to common shares before
cumulative effect of accounting change 60,439 56,094 116,899 92,024
Cumulative effect of change in accounting for
goodwill - - - (234,742)
----------- ----------- ----------- -----------
Net income (loss) attributable to common
shares $ 60,439 $ 56,094 $ 116,899 $ (142,718)
=========== =========== =========== ===========
Weighted average number of common shares
outstanding 109,117,915 117,296,534 111,586,508 117,329,168
Dilutive effect of outstanding common stock
equivalents 12,980,282 12,635,521 12,999,186 -
----------- ----------- ----------- -----------
Weighted average number of common shares as
adjusted for calculation of fully diluted
income (loss) per share 122,098,197 129,932,055 124,585,694 117,329,168
=========== =========== =========== ===========
Fully diluted income per common share before
cumulative effect of accounting change $ 0.50 $ 0.43 $ 0.94 $ 0.78
Cumulative effect of change in accounting for
goodwill - - - (2.00)
----------- ----------- ----------- -----------
Fully diluted income (loss) per common
share $ 0.50 $ 0.43 $ 0.94 $ (1.22)
=========== =========== =========== ===========