EXHIBIT 11 Imperial Credit Industries, Inc. Statement Regarding Computation of Earnings Per Share (In thousands, except per share amounts) Years Ending December 31, 2000 1999 1998 ---- ---- ---- Loss from continuing operations before extraordinary item $(161,642) $ (5,950) $ (59,125) Operating loss from discontinued operations of AMN, net of income taxes (5,218) (899) (3,232) Loss on disposal of AMN, including provision of $3.7 million for operating losses during phase-out period, net of $6.6 million of income taxes - - (11,276) --------- --------- --------- Loss before extraordinary item (166,860) (6,849) (73,633) Extraordinary item-gain on early extinguishment of debt, net of income taxes 3,534 4,021 - --------- --------- --------- Net loss $(163,326) $ (2,828) $ (73,633) ========= ========= ========= Weighted average common shares outstanding used to compute basic loss per share 32,573 34,517 38,228 Assumed common shares issued on exercise of stock options - - - --------- --------- --------- Number of common shares used to compute diluted loss per share 32,573 34,517 38,228 ========= ========= ========= Basic loss per share: - --------------------- Loss from continuing operations before extraordinary items $ (4.96) $ (0.17) $ (1.55) Loss from discontinued operations, net of income taxes (0.16) (0.02) (0.08) Loss on disposal of AMN, net of income taxes - - (0.30) Extraordinary item-gain on early extinguishment of debt, net of income taxes 0.11 0.11 - --------- --------- --------- Net basic loss per common share $ (5.01) $ (0.08) $ (1.93) ========= ========= ========= Diluted loss per share: - ----------------------- Loss from continuing operations before extraordinary items $ (4.96) $ (0.17) $ (1.55) Loss from discontinued operations, net of income taxes (0.16) (0.02) (0.08) Loss on disposal of AMN, net of income taxes - - (0.30) Extraordinary item-gain on early extinguishment of debt, net of incomes taxes 0.11 0.11 - --------- --------- --------- Net diluted loss per common share $ (5.01) $ (0.08) $ (1.93) ========= ========= =========