FOUNDATION HEALTH SYSTEMS, INC.
EARNINGS PER SHARE COMPUTATION
UTILIZING THE TREASURY STOCK METHOD
EXHIBIT 11.1
(IN THOUSANDS, EXCEPT SHARE DATA)
(UNAUDITED)
QUARTER ENDED JUNE 30, SIX MONTHS ENDED JUNE 30,
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1997 1996 1997 1996
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PRIMARY
Shares outstanding at beginning of period 125,398,828 124,392,021 125,207,484 123,096,685
Weighted average shares issued (repurchased) during period (92,607) 278,860 94,207 809,624
Dilutive shares contingently issuable upon exercise of stock options,
net of shares assumed to have been purchased (at average market price)
for treasury with assumed proceeds from exercise 477,451 710,840 439,068 829,831
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Weighted average shares outstanding (A) 125,783,672 125,381,721 125,740,759 124,736,140
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Income (loss) from continuing operations (B) $ (200,124) $ 60,188 $ (141,647) $ 125,855
Income from discontinued operations (C) - 6,300 - 2,910
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Net income (loss) (D) $ (200,124) $ 66,488 $ (141,647) $ 128,765
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Earnings (loss) per share:
Continuing operations (B/A) $ (1.59) $ 0.48 $ (1.13) $ 1.01
Discontinued operations (C/A) - .05 - .02
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Net earnings (D/A) $ (1.59) $ 0.53 $ (1.13) $ 1.03
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FULLY DILUTED
Shares outstanding at beginning of period 125,398,828 124,392,021 125,207,484 123,096,685
Weighted average shares issued (repurchased) during period (92,607) 278,860 94,207 809,624
Dilutive shares contingently issuable upon exercise of stock options,
net of shares assumed to have been purchased (at average market price)
for treasury with assumed proceeds from exercise 585,764 711,418 593,784 834,783
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Weighted average shares outstanding (A) 125,891,985 125,382,299 125,895,475 124,741,092
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Income (loss) from continuing operations (B) $ (200,124) $ 60,188 $ (141,647) $ 125,855
Income from discontinued operations (C) - 6,300 - 2,910
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Net income (loss) (D) $ (200,124) $ 66,488 $ (141,647) $ 128,765
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Earnings (loss) per share:
Continuing operations (B/A) $ (1.59) $ 0.48 $ (1.13) $ 1.01
Discontinued operations (C/A) - 0.05 - 0.02
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Net earnings (D/A) $ (1.59) $ 0.53 $ (1.13) $ 1.03
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