Exhibit 11
LIBERTY FINANCIAL COMPANIES, INC.
STATEMENT RE COMPUTATION OF PER SHARE EARNINGS
(in millions, except share and per share amounts)
Year Ended December 31
-----------------------------------------
1996 1995 1994
------------- ------------- -------------
Primary net income per common share:
Net income $ 100.7 $ 73.9 $ 50.8
Less: cumulative preferred dividends 0.9 0.7 --
----------- ----------- -----------
Net income available for common shareholders $ 99.8 $ 73.2 $ 50.8
=========== =========== ===========
Weighted average shares outstanding 28,235,951 26,430,481 22,814,204
Common stock equivalents 1,410,083 1,265,228 818,073
----------- ----------- -----------
Total 29,646,034 27,695,709 23,632,277
=========== =========== ===========
Primary net income per common share $ 3.36 $ 2.64 $ 2.15
=========== =========== ===========
Fully diluted net income per common share:
Net income $ 100.7 $ 73.9 $ 50.8
Less: cumulative preferred dividends -- 0.7 --
----------- ----------- -----------
Net income available for common shareholders $ 100.7 $ 73.2 $ 50.8
=========== =========== ===========
Weighted average shares outstanding 28,235,951 26,430,481 22,814,204
Common stock equivalents 1,662,915 1,403,314 818,073
Convertible preferred stock 346,008 -- --
----------- ----------- -----------
Total 30,244,874 27,833,795 23,632,277
=========== =========== ===========
Fully diluted net income per common share $ 3.33 $ 2.63 $ 2.15
=========== =========== ===========