1 EXHIBIT 11 STATEMENT RE: COMPUTATION OF PER-SHARE EARNINGS YEAR ENDED DECEMBER 31, --------------------------- 1997 1996 1995 ---- ---- ---- (IN THOUSANDS EXCEPT PER-SHARE DATA) Net earnings available to common before extraordinary charge from prepayment of debt......................... $41,305 $34,590 $29,490 ======= ======= ======= Net earnings.............................................. $41,305 $34,590 $23,011 ======= ======= ======= Average shares outstanding................................ 19,085 17,196 16,071 Basic per-share amounts: Net earnings.............................................. $2.16 $2.01 $1.43 ======= ======= ======= Net earnings before extraordinary charge.................. $2.16 $2.01 $1.83 ======= ======= ======= Average shares outstanding................................ 19,085 17,196 16,071 Stock option incremental shares........................... 52 44 10 ------- ------- ------- Average shares outstanding, diluted.................... 19,137 17,240 16,081 ======= ======= ======= Diluted per-share amounts: Net earnings.............................................. $2.16 $2.01 $1.43 ======= ======= ======= Net earnings before extraordinary charge.................. $2.16 $2.01 $1.83 ======= ======= ======= Diluted assuming conversion of debt: Net earnings.............................................. $41,305 $34,590 Add interest expense associated with Convertible Debentures............................................. 6,279 7,778 ------- ------- Total.................................................. $47,584 $42,368 ======= ======= Average shares outstanding................................ 19,085 17,196 Assumed conversion of debentures.......................... 2,583 3,095 Stock option incremental shares........................... 52 72 ------- ------- Total.................................................. 21,720 20,363 ======= ======= Per-share amount (antidilutive)........................... $2.19 $2.08 ======= =======