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,
------------------------- -------------------------
2001 2000 2001 2000
------------------------- -------------------------
Weighted average shares outstanding 80,079,906 74,869,550 78,520,489 72,110,495
Incremental shares resulting from
assumed exercise of stock options 6,630,080 4,158,357 6,297,229 4,434,448
------------------------- -------------------------
Weighted average shares and
assumed incremental shares 86,709,986 79,027,907 84,817,718 76,544,943
========================= =========================
NET INCOME $60,430 $32,410 $151,145 $77,343
========================= =========================
EARNINGS PER SHARE:
Basic $0.75 $0.43 $1.92 $1.07
========================= =========================
Diluted $0.70 $0.41 $1.78 $1.01
========================= =========================
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 price for the period was used to determine the number of incremental
shares.