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EXHIBIT 11
KAUFMAN AND BROAD HOME CORPORATION
STATEMENT OF COMPUTATION OF PER SHARE EARNINGS
(In Thousands Except Per Share Amounts - Unaudited)
Three Months Ended February 28,
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1995 1994
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PRIMARY:
Net income $ 435 $ 8,854
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Weighted average common shares outstanding 32,380 32,593
Weighted average Series B convertible preferred shares(1) 6,500 6,500
Common share equivalents:
Stock options 863 1,280
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39,743 40,373
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PRIMARY EARNINGS PER SHARE(2) $ .01 $ .22
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FULLY DILUTED:
Net income $ 435 $ 8,854
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Weighted average common shares outstanding 32,380 32,593
Weighted average Series B convertible preferred shares(1) 6,500 6,500
Common share equivalents:
Stock options 927 1,280
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39,807 40,373
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FULLY DILUTED EARNINGS PER SHARE(2,3) $ .01 $ .22
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(1) Each of the 1,300 Series B convertible preferred shares is convertible
into five shares of common stock.
(2) If, for purposes of calculating primary and fully diluted earnings per
share, the Series B convertible preferred shares were excluded from the
weighted average shares outstanding and the related dividends deducted from
net income, the computations would have resulted in both primary and fully
diluted loss per share of $.06 for the three months ended February 28, 1995
and earnings per share of $.19 for the three months ended February 28,
1994.
(3) Fully diluted earnings per share is not disclosed in the Company's
consolidated financial statements since the maximum dilutive effect is not
material.
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