EXHIBIT 11.1 AMERICREDIT CORP. STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS (dollars in thousands, except per share amounts) Three Months Ended Nine Months Ended March 31, March 31, --------------------------------- ---------------------------------- 2000 1999 2000 1999 ---------------- ---------------- ---------------- ---------------- Weighted average shares outstanding 74,869,550 63,187,789 72,110,495 62,872,858 Incremental shares resulting from assumed exercise of stock options 4,158,357 3,326,578 4,434,448 3,949,568 ---------------- ---------------- ---------------- ---------------- Weighted average shares and assumed incremental shares 79,027,907 66,514,367 76,544,943 66,822,426 ================ ================ ================ ================ NET INCOME $32,410 $19,505 $77,343 $52,363 ================ ================ ================ ================ EARNINGS PER SHARE: Basic $0.43 $0.31 $1.07 $0.83 ================ ================ ================ ================ Diluted $0.41 $0.29 $1.01 $0.78 ================ ================ ================ ================ Basic earnings per share have been computed by dividing net income by weighted average shares outstanding. Diluted earnings per share have been computed by dividing net income by the weighted average shares and assumed incremental shares. Assumed incremental shares were computed using the treasury stock method. The average common stock market prices for the period was used to determine the number of incremental shares.