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Exhibit 11.1
THE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES
COMPUTATION OF PER SHARE EARNINGS
ACTUAL PRO FORMA
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FOR THE YEAR ENDED
NOVEMBER 1999
(in millions, except share
and per share amounts)
Earnings available to common
stockholders............................... $ 2,708 $ 2,550
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Weighted-average number of common shares .... 475,883,756 475,378,473
Effect of dilutive securities:
Restricted stock units..................... 5,657,350 5,871,943
Stock options.............................. 4,262,854 2,675,639
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Dilutive potential common shares............. 9,920,204 8,547,582
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Weighted-average number of common shares
and dilutive potential common shares....... 485,803,960 483,926,055
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BASIC EARNINGS PER SHARE..................... $ 5.69 $ 5.36
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DILUTED EARNINGS PER SHARE................... $ 5.57 $ 5.27
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