1 EXHIBIT 11.1 THE GOLDMAN SACHS GROUP, INC. AND SUBSIDIARIES COMPUTATION OF PER SHARE EARNINGS (in millions, except share and per share amounts) THREE MONTHS ENDED FEBRUARY -------------- 2000 ---- Numerator for basic and diluted EPS -- earnings available to common stockholders....................................... $ 887 ============ Denominator for basic EPS-weighted average number of common shares(1)................................................. 484,576,498 Effect of dilutive securities Restricted stock units.................................... 11,964,215 Stock options............................................. 8,846,331 ------------ Dilutive potential common shares............................ 20,810,546 ------------ Denominator for diluted EPS-weighted average number of common shares and dilutive potential common shares........ 505,387,044 ============ Basic EPS................................................... $ 1.83 Diluted EPS................................................. 1.76 - --------------- (1) Includes common stock and nonvoting common stock as well as restricted stock units awarded to employees for which no future service is required as a condition to the delivery of the underlying shares of common stock.