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EXHIBIT 11
UNITED COMPANIES FINANCIAL CORPORATION AND SUBSIDIARIES
STATEMENT RE COMPUTATION OF EARNINGS PER SHARE
Three Months Ended March 31,
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1996 1995
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(in thousands, except per share amounts)
Primary Earnings Per Share
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Income available to common shareholders:
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Income from continuing operations . . . . . . . . . . . . . $ 18,958 $ 12,824
Less: Loss from discontinued operations . . . . . . . . . (1,119) (128)
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Total . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 17,839 $ 12,696
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Weighted average number of common and
common equivalent shares:
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Average common shares outstanding . . . . . . . . . . . . . 27,850 27,258
Add: Dilutive effect of stock options after
application of treasury stock method . . . . . . . 868 904
Dilutive effect of preferred stock
after application of "if converted" method . . . . 3,230 -
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Total . . . . . . . . . . . . . . . . . . . . . . . . . . . 31,948 28,162
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Earnings (loss) per share:
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Income from continuing operations . . . . . . . . . . . . . $ .59 $ .46
Loss from discontinued operations . . . . . . . . . . . . . (.03) (.01)
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Total . . . . . . . . . . . . . . . . . . . . . . . . . . . $ .56 $ .45
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Fully Diluted Earnings Per Share
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Income available to common shareholders:
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Income from continuing operations . . . . . . . . . . . . . $ 18,958 $ 12,824
Less: Loss from discontinued operations . . . . . . . . . (1,119) (128)
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Total . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 17,839 $ 12,696
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Weighted average number of common and
all dilutive contingent shares:
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Average common shares outstanding . . . . . . . . . . . . . 27,850 27,258
Add: Dilutive effect of stock options after
application of treasury stock method . . . . . . . 965 988
Dilutive effect of preferred stock
after application of "if converted" method . . . . 3,910 -
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Total . . . . . . . . . . . . . . . . . . . . . . . . . . . 32,725 28,246
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Earnings (loss) per share:
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Income from continuing operations . . . . . . . . . . . . . $ .58 $ .46
Loss from discontinued operations . . . . . . . . . . . . . (.03) (.01)
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Total . . . . . . . . . . . . . . . . . . . . . . . . . . . $ .55 $ .45
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