EXHIBIT 11
MGIC INVESTMENT CORPORATION AND SUBSIDIARIES
STATEMENT RE COMPUTATION OF NET INCOME PER SHARE
Three and Six Month Periods Ended June 30, 2001 and 2000
Three Months Ended Six Months Ended
June 30, June 30,
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2001 2000 2001 2000
(In thousands of dollars, except per share data)
BASIC EARNINGS PER SHARE
Average common shares
outstanding 107,111 105,924 106,997 105,887
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Net income $ 161,128 $ 136,103 $ 319,142 $ 263,323
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Basic earnings per share $ 1.51 $ 1.28 $ 2.98 $ 2.49
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DILUTED EARNINGS PER SHARE
Adjusted shares outstanding:
Average common shares
outstanding 107,111 105,924 106,997 105,887
Net shares to be issued
upon exercise of dilutive
stock options after
applying treasury stock
method 991 921 957 987
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Adjusted shares outstanding 108,102 106,845 107,954 106,874
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Net income $ 161,128 $ 136,103 $ 319,142 $ 263,323
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Diluted earnings per share $ 1.49 $ 1.27 $ 2.96 $ 2.46
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