COMMERCIAL FEDERAL CORPORATION Exhibit 11
COMPUTATION OF EARNINGS PER SHARE
(Unaudited)
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COMPUTATION OF INCOME PER BASIC AND DILUTED SHARES:
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Three Months Ended Nine Months Ended
March 31, March 31,
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1998 1997 1998 1997
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Income before extraordinary items $ 8,194,249 $ 19,604,744 $ 47,536,921 $ 35,095,819
Extraordinary items, net of tax benefit -- -- -- (583,312)
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Net income $ 8,194,249 $ 19,604,744 $ 47,536,921 $ 34,512,507
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BASIC EARNINGS PER SHARE:
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Weighted average number of common shares
outstanding used in basic earnings per
share calculation 39,978,614 38,667,348 39,227,633 38,827,114
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Income before extraordinary items $ .20 $ .51 $ 1.21 $ .90
Extraordinary items, net of tax benefit -- -- -- (.01)
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Net income $ .20 $ .51 $ 1.21 $ .89
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DILUTED EARNINGS PER SHARE:
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Weighted average number of common shares
outstanding used in basic earnings
per share calculation 39,978,614 38,667,348 39,227,633 38,827,114
Add assumed exercise of outstanding stock
options as adjustments for dilutive
securities 424,003 624,902 600,800 590,472
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Weighted average number of common shares
outstanding used in diluted earnings per
share calculation 40,402,617 39,292,250 39,828,433 39,417,586
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Income before extraordinary items $ .20 $ .50 $ 1.19 $ .89
Extraordinary items, net of tax benefit -- -- -- (.01)
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Net income $ .20 $ .50 $ 1.19 $ .88
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