COMPUTATION OF EARNINGS PER ORDINARY SHARE
AND ORDINARY SHARE EQUIVALENT
(U.S. DOLLARS IN THOUSANDS, EXCEPT SHARE AND PER SHARE AMOUNTS)
THREE MONTHS ENDED NINE MONTHS ENDED
SEPTEMBER 30, SEPTEMBER 30,
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1999 1998 1999 1998
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(UNAUDITED) (UNAUDITED)
(A) Earnings per ordinary share and ordinary share
equivalent--basic:
Weighted average ordinary shares and ordinary
share equivalents outstanding................. 127,544 116,935 127,580 106,415
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Net income.................................... $137,402 $140,271 $409,921 $491,993
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Earnings per ordinary share and ordinary share
equivalent.................................... $ 1.08 $ 1.20 $ 3.21 $ 4.62
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(B) Earnings per ordinary share and ordinary share
equivalent--assuming full dilution:
Weighted average ordinary shares and ordinary
share equivalents outstanding................. 125,449 116,700 126,691 106,263
Average stock options outstanding (net of
repurchased shares under the treasury stock
method)....................................... 1,746 2,539 2,199 2,556
Assumed conversion of convertible
debentures.................................... 1,837 1,837 1,837 1.837
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Weighted average ordinary shares and ordinary
share equivalents outstanding................. 129,032 121,076 130,727 110,656
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Net income.................................... $137,402 $140,271 $409,921 $491,993
Add back after-tax interest on convertible
debentures.................................... 876 846 1,752 2,638
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Adjusted net income........................... $138,278 $141,117 $411,673 $494,621
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Earnings per ordinary share and ordinary share
equivalent.................................... $ 1.07 $ 1.17 $ 3.15 $ 4.47
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