H. F. Ahmanson & Company and Subsidiaries
Statements 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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1997 1996 1997 1996
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(dollars in thousands, except per share data)
Primary income per common share:
Net income $ 115,656 $ 68,734 $ 218,749 $ 133,489
Less accumulated dividends on preferred stock (8,407) (12,607) (16,815) (25,215)
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Income attributable to common shares $ 107,249 $ 56,127 $ 201,934 $ 108,274
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Weighted average number of common shares
outstanding 96,724,018 109,117,915 99,680,403 111,586,508
Dilutive effect of outstanding common stock
equivalents 1,484,172 898,298 1,590,215 846,250
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Weighted average number of common shares as
adjusted for calculation of primary
income per share 98,208,190 110,016,213 101,270,618 112,432,758
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Primary income per common share $ 1.09 $ 0.51 $ 1.99 $ 0.96
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Fully diluted income per common share:
Net income $ 115,656 $ 68,734 $ 218,749 $ 133,489
Less accumulated dividends on preferred stock (4,095) (8,295) (8,190) (16,590)
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Income attributable to common shares $ 111,561 $ 60,439 $ 210,559 $ 116,899
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Weighted average number of common shares
outstanding 96,724,018 109,117,915 99,680,403 111,586,508
Dilutive effect of outstanding common stock
equivalents 13,461,815 12,980,282 13,622,745 12,999,186
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Weighted average number of common shares as
adjusted for calculation of fully diluted
income per share 110,185,833 122,098,197 113,303,148 124,585,694
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Fully diluted income per common share $ 1.01 $ 0.50 $ 1.86 $ 0.94
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