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 Nine Months Ended
September 30, September 30,
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1997 1996 1997 1996
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(dollars in thousands, except per share data)
Primary income (loss) per common share:
Net income (loss) $ 95,539 $ (79,478) $ 314,288 $ 54,011
Less accumulated dividends on preferred stock (8,407) (11,298) (25,223) (36,514)
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Income (loss) attributable to common shares $ 87,132 $ (90,776) $ 289,065 $ 17,497
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Weighted average number of common shares
outstanding 95,650,381 106,282,651 98,305,265 109,855,064
Dilutive effect of outstanding common stock
equivalents 1,854,187 - 1,737,692 895,761
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Weighted average number of common shares as
adjusted for calculation of primary
income (loss) per share 97,504,568 106,282,651 100,042,957 110,750,825
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Primary income (loss) per common share $ 0.89 $ (0.85) $ 2.89 $ 0.16
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Fully diluted income (loss) per common share:
Net income (loss) $ 95,539 $ (79,478) $ 314,288 $ 54,011
Less accumulated dividends on preferred stock (4,095) (11,298) (12,285) (36,514)
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Income (loss) attributable to common shares $ 91,444 $ (90,776) $ 302,003 $ 17,497
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Weighted average number of common shares
outstanding 95,650,381 106,282,651 98,305,265 109,855,064
Dilutive effect of outstanding common stock
equivalents 13,826,160 - 14,055,815 895,761
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Weighted average number of common shares as
adjusted for calculation of fully diluted
income (loss) per share 109,476,541 106,282,651 112,361,080 110,750,825
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Fully diluted income (loss) per common share $ 0.84 $ (0.85) $ 2.69 $ 0.16
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