EXHIBIT 11 STATEMENT RE: COMPUTATION OF PER-SHARE EARNINGS Year Ended December 31, ----------------------- 2000 1999 1998 ---- ---- ---- Net (loss) earnings available to common before gains or losses on asset Dispositions ....................................... $ (76,474) $ 20,547 $ 34,977 ========== ========= ======== Net (loss) earnings available to Common ............................. $ (66,485) $ 10,040 $ 68,015 ========== ========= ======== Average shares outstanding .......................................... 20,052 19,877 20,034 Basic per-share amounts: Net (loss) earnings ................................................. $ (3.32) $ 0.51 $ 3.39 ========== ========= ======== Net (loss) earnings before gains or losses on asset dispositions .... $ (3.81) $ 1.03 $ 1.75 ========== ========= ======== Average shares outstanding .......................................... 20,052 19,877 20,034 Stock option incremental shares ..................................... 0 0 7 ------ ------- ------- Average shares outstanding, diluted ............................... 20,052 19,877 20,041 ======= ======= ======== Diluted per-share amounts: Net (loss) earnings ................................................. $ (3.32) $ 0.51 $ 3.39 ========== ========= ======== Net (loss) earnings before asset dispositions ....................... $ (3.81) $ 1.03 $ 1.75 ========= ========= ======== Diluted assuming conversion of debt: Net earnings before gains or losses on asset dispositions ........... $ (76,474) $ 20,547 $ 34,977 Add Series C preferred dividends .................................... 7,297 0 0 Add interest expense associated with Convertible Debentures ......... 3,456 4,381 4,714 ----- ----- ----- Total ............................................................. $ (65,721) $ 24,928 $ 39,691 ========= ========= ======== Average shares outstanding .......................................... 20,052 19,877 20,034 Assumed conversion of Series C Preferred Stock ...................... 7,320 0 0 Assumed conversion of debentures .................................... 1,309 1,794 1,899 Stock option incremental shares ..................................... 0 0 7 ------- ------ ------ Total ............................................................. 28,681 21,671 21,940 ====== ====== ====== Per-share amount (antidilutive) ..................................... $ (2.29) $ 1.15 $ 1.81 ========= ========= ========