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EXHIBIT 11 COMPUTATION OF PER SHARE EARNINGS
Year Ended December 31,
2000 1999 1998
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BASIC
Net earnings before extraordinary item $ 82,252 $ 66,695 $ 43,592
Extraordinary item, net of tax -- -- (3,326)
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Net earnings 82,252 66,695 40,266
Adjustment for dividends on convertible
preferred shares (694) (831) (1,000)
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Net earnings applicable to common stockholders $ 81,558 $ 65,864 $ 39,266
Weighted-average common shares outstanding 13,172,793 14,678,925 14,709,404
Net earnings per share before extraordinary item $ 6.19 $ 4.49 $ 2.90
Extraordinary item -- -- (0.23)
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Net earnings per share $ 6.19 $ 4.49 $ 2.67
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DILUTED
Net earnings before extraordinary item $ 82,252 $ 66,695 $ 43,592
Extraordinary item, net of tax -- -- (3,326)
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Net earnings 82,252 66,695 40,266
Adjustment for dividends on convertible
preferred shares -- -- --
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Net earnings applicable to common stockholders 82,252 66,695 40,266
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Weighted-average common shares outstanding 13,172,793 14,678,925 14,709,404
Common stock equivalents:
Stock options 315,560 292,580 316,640
Equity incentive plan 83,883 149,622 113,894
Conversion of preferred shares (1) 321,126 384,255 463,374
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Total 13,893,362 15,505,382 15,603,312
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Net earnings per share before extraordinary item $ 5.92 $ 4.30 $ 2.79
Extraordinary item -- -- (0.21)
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Net earnings per share $ 5.92 $ 4.30 $ 2.58
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(1) The assumed conversion of preferred shares was dilutive for the years ended
December 31, 2000, 1999 and 1998.
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