1 EXHIBIT 11 - STATEMENT RE COMPUTATION OF PER SHARE EARNINGS THREE MONTHS ENDED SEPT 30, NINE MONTHS ENDED SEPT 30, ----------------------------- ----------------------------- 1998 1997 1998 1997 ------------ ------------ ------------ ------------ (IN THOUSANDS, EXCEPT SHARE AND PER-SHARE AMOUNTS) CALCULATION OF BASIC EARNINGS PER SHARE: Income from continuing operations $ 28,313 $ 16,937 $ 75,996 $ 55,605 Less preferred stock dividends (75) (75) (237) (225) ------------ ------------ ------------ ------------ Income from continuing operations applicable to common stock $ 28,238 $ 16,862 $ 75,759 $ 55,380 ============ ============ ============ ============ Total weighted average shares outstanding 34,638,425 30,097,654 32,752,669 29,225,850 ============ ============ ============ ============ Basic EPS from continuing operations $ 0.82 $ 0.56 $ 2.31 $ 1.90 ============ ============ ============ ============ CALCULATION OF DILUTED EARNINGS PER SHARE: Income from continuing operations $ 28,313 $ 16,937 $ 75,996 $ 55,605 Less preferred stock dividends (75) (75) (237) (225) Net effect on earnings from conversion of mandatorily redeemable convertible preferred securities 5,981 12,735 ------------ ------------ ------------ ------------ Income from continuing operations applicable to common stock $ 34,219 $ 16,862 $ 88,494 $ 55,380 ============ ============ ============ ============ Weighted average shares outstanding 34,638,425 30,097,654 32,752,669 29,225,850 Stock option conversion 1,448,784 2,278,616 1,963,650 1,845,175 Dilutive effect of conversion of mandatorily redeemable convertible preferred securities 9,096,303 6,526,298 ------------ ------------ ------------ ------------ Total weighted average shares outstanding 45,183,512 32,376,270 41,242,617 31,071,025 ============ ============ ============ ============ Diluted EPS from continuing operations $ 0.76 $ 0.52 $ 2.15 $ 1.78 ============ ============ ============ ============