EXHIBIT 11
EARNINGS PER SHARE
YEARS ENDED DECEMBER 31
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1995 1994 1993
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Earnings before income taxes, extraordinary items
and cumulative effect of accounting change.......... $ 82,994,000 $61,991,000 $31,836,000
Income taxes......................................... 31,620,000 24,176,000 12,416,000
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Earnings before extraordinary items and cumulative
effect of accounting change......................... 51,374,000 37,815,000 19,420,000
Extraordinary items, net of income taxes............. (717,000) - (619,000)
Cumulative effect of accounting change............... - - 1,500,000
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Net earnings......................................... 50,657,000 37,815,000 20,301,000
Conversion of partner's interest into common stock... (46,364,000) - -
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Net earnings available to shareholders............... $ 4,293,000 $37,815,000 $20,301,000
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Weighted average common and common equivalent shares. 51,977,000 48,624,000 47,306,000
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Earnings per common and common equivalent share:
Earnings after conversion of partner's interest
into common stock and before extraordinary items
and cumulative effect of accounting change........ $ .10 $ .78 $ .41
Extraordinary items, net of income taxes.......... (.02) - (.01)
Cumulative effect of accounting change............. - - .03
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Net earnings available to shareholders............. $ .08 $ .78 $ .43
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Weighted average common shares-assuming full
dilution............................................ 52,020,000 48,687,000 47,480,000
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Earnings after conversion of partner's interest
into common stock and before extraordinary
items and cumulative effect of accounting change.. $ .10 $ .78 $ .41
Extraordinary items, net of income taxes........... (.02) - (.01)
Cumulative effect of accounting change............. - - .03
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Net earnings available to shareholders............. $ .08 $ .78 $ .43
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