BANKATLANTIC BANCORP, INC.
EXHIBIT 11
EARNINGS PER SHARE
The following reconciles the numerators and denominators of the basic and
diluted earnings per share.
FOR THE THREE MONTHS ENDED
JUNE 30,
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(In thousands, except share data ) 2002 2001
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(As Restated)
BASIC EARNINGS PER SHARE
Income (loss) before extraordinary item $ (3,487) $ 8,605
Basic weighted average number of common shares outstanding 57,973,880 36,535,810
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Basic earnings (loss) per share before extraordinary item $ (0.06) $ 0.24
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Extraordinary item $ 23,810 $ 0
Basic weighted average number of common shares outstanding 57,973,880 36,535,810
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Basic earnings per share from extraordinary item $ 0.41 $ 0.00
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Net Income $ 20,323 $ 8,605
Basic weighted average number of common shares outstanding 57,973,880 36,535,810
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BASIC EARNINGS PER SHARE $ 0.35 $ 0.24
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Amortization of goodwill, net of tax $ 0.00 $ 978
Basic weighted average number of common shares outstanding 57,973,880 36,535,810
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Basic earnings per share from amortization of goodwill $ 0.00 $ 0.03
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Net income adjusted for goodwill amortization $ 20,323 $ 9,583
Basic weighted average number of common shares outstanding 57,973,880 36,535,810
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BASIC EARNINGS PER SHARE ADJUSTED FOR GOODWILL AMORTIZATION $ 0.35 $ 0.27
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DILUTED EARNINGS PER SHARE
Income (loss) before extraordinary item $ (3,487) $ 8,605
Interest expense on convertible debentures 0.00 1,027
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Income available after assumed conversion $ (3,487) $ 9,632
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Basic weighted average shares outstanding 57,973,880 36,535,810
Common stock equivalents resulting from convertible debentures 0 13,064,312
Common stock equivalents resulting from restricted stock and options 0 1,675,449
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Diluted weighted average shares outstanding 57,973,880 51,275,571
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Diluted earnings per share before extraordinary item $ (0.06) $ 0.19
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Extraordinary item $ 23,810 $ 0
Diluted weighted average shares outstanding 57,973,880 51,275,571
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Diluted earnings per share from extraordinary item $ 0.41 0.00
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Income available after assumed conversion $ 20,323 $ 9,632
Diluted weighted average shares outstanding 57,973,880 51,275,571
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DILUTED EARNINGS PER SHARE $ 0.35 $ 0.19
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Amortization of goodwill, net of tax $ 0 $ 978
Diluted weighted average shares outstanding 57,973,880 51,275,571
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Diluted earnings per share from amortization of goodwill $ 0.00 $ 0.02
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Income available after assumed conversion adjusted for
goodwill amortization $ 20,323 $ 10,610
Diluted weighted average shares outstanding 57,973,880 51,275,571
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DILUTED EARNINGS PER SHARE ADJUSTED FOR GOODWILL AMORTIZATION $ 0.35 $ 0.21
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BANKATLANTIC BANCORP, INC.
FOR THE SIX MONTHS ENDED
JUNE 30,
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(In thousands, except share data ) 2002 2001
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(As Restated)
BASIC EARNINGS PER SHARE
Income before extraordinary item and
cumulative effect of a change in accounting principle $ 9,093 $ 15,430
Basic weighted average number of common shares outstanding 57,918,382 36,519,091
Basic earnings per share before extraordinary item and ----------- -----------
cumulative effect of a change in accounting principle $ 0.16 $ 0.42
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Extraordinary item $ 23,810 $ 0
Basic weighted average number of common shares outstanding 57,918,382 36,519,091
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Basic earnings per share from extraordinary item $ 0.41 $ 0.00
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Cumulative effect of a change in accounting principle $ 0 $ 1,138
Basic weighted average number of common shares outstanding 57,918,382 36,519,091
Basic earnings per share from cumulative effect of a change ----------- -----------
in accounting principle $ 0.00 $ 0.03
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Net Income $ 32,903 $ 16,568
Basic weighted average number of common shares outstanding 57,918,382 36,519,091
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BASIC EARNINGS PER SHARE $ 0.57 $ 0.45
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Amortization of goodwill, net of tax $ 0 $ 1,969
Basic weighted average number of common shares outstanding 57,918,382 36,519,091
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Basic earnings per share from amortization of goodwill $ 0.00 $ 0.05
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Net income adjusted for goodwill amortization $ 32,903 $ 18,537
Basic weighted average number of common shares outstanding 57,918,382 36,519,091
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BASIC EARNINGS PER SHARE ADJUSTED FOR GOODWILL AMORTIZATION $ 0.57 $ 0.50
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DILUTED EARNINGS PER SHARE
Income before extraordinary item and
cumulative effect of a change in accounting principle $ 9,093 $ 15,430
Interest expense on convertible debentures 0 2,052
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Income available after assumed conversion $ 9,093 $ 17,482
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Basic weighted average shares outstanding 57,918,382 36,519,091
Common stock equivalents resulting from convertible debentures 0 13,065,213
Common stock equivalents resulting from restricted stock and options 2,968,980 1,324,698
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Diluted weighted average shares outstanding 60,887,362 50,909,002
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Diluted earnings per share before extraordinary item and
cumulative effect of a change in accounting principle $ 0.16 $ 0.34
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Extraordinary item $ 23,810 $ 0
Diluted weighted average shares outstanding 60,887,362 50,909,002
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Diluted earnings per share from extraordinary item 0.39 0.00
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Cumulative effect of a change in accounting principle 0 $ 1,138
Diluted weighted average shares outstanding 60,887,362 50,909,002
Diluted earnings per share from cumulative effect of a change ----------- -----------
in accounting principle $ 0.00 $ 0.03
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Income available after assumed conversion $ 32,903 $ 18,620
Diluted weighted average shares outstanding 60,887,362 50,909,002
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DILUTED EARNINGS PER SHARE $ 0.54 $ 0.37
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Amortization of goodwill, net of tax $ 0 $ 1,969
Diluted weighted average shares outstanding 60,887,362 50,909,002
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Diluted earnings per share from amortization of goodwill $ 0.00 $ 0.04
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Income available after assumed conversion adjusted for
goodwill amortization $ 32,903 $ 20,589
Diluted weighted average shares outstanding 60,887,362 50,909,002
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DILUTED EARNINGS PER SHARE ADJUSTED FOR GOODWILL AMORTIZATION $ 0.54 $ 0.41
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