GREAT WESTERN FINANCIAL CORPORATION
Computation of Net Income Per Common
Primary and Fully Diluted
THREE MONTHS ENDED SIX MONTHS ENDED
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June 30, March 31, June 30, June 30, June 30,
1997 1997 1996 1997 1996
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(DOLLARS IN THOUSANDS)
Net income $72,333 $65,703 $79,271 $138,036 $150,565
Preferred stock dividends - convertible
and nonconvertible (3,423) (3,424) (6,242) (6,847) (12,496)
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Net income for computing earnings per
Common share - primary 68,910 62,279 73,029 131,189 138,069
Preferred stock dividends - convertible - - 2,819 - 5,649
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Common share - fully diluted $68,910 $62,279 $75,848 $131,189 $143,718
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Computation of Average Number of Common Shares
Outstanding on Primary and Fully Diluted Basis
(In thousands, except per share amounts)
THREE MONTHS ENDED SIX MONTHS ENDED
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June 30, March 31, June 30, June 30, June 30,
1997 1997 1996 1997 1996
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(DOLLARS IN THOUSANDS)
Average number of Common shares
outstanding during each period -
without dilution 138,292 137,715 137,306 138,004 137,249
Common share equivalents outstanding
at the end of each period 3,323 3,590 1,736 3,023 1,735
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Average number of common shares and
Common share equivalents outstanding
during each period on a primary basis 141,615 141,305 139,042 141,027 138,984
Common share equivalents outstanding
at the end of each period on a fully
diluted basis 457 291 125 757 125
Addition from assumed conversion as of
the beginning of each period of the
convertible preferred stock outstanding
at the end of each period - - 6,324 - 6,325
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Average number of Common shares
outstanding during each period on a fully
diluted basis 142,072 141,596 145,491 141,784 145,434
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Net income per Common share
Primary $ 0.49 $ 0.44 $ 0.52 $ 0.93 $ 0.99
Fully diluted $ 0.49 $ 0.44 $ 0.52 $ 0.93 $ 0.99