Exhibit 11 EARNINGS PER SHARE Years Ended December 31 --------------------------------------------------------- 1997 1996 1995 ------------- ------------- ------------- Earnings before income taxes and extraordinary items .......................................................... $ 137,489,000 $ 96,379,000 $ 82,994,000 Income taxes ..................................................... 50,185,000 35,660,000 31,620,000 ------------- ------------- ------------- Earnings before extraordinary items .............................. 87,304,000 60,719,000 51,374,000 Extraordinary items, net of income taxes ......................... (38,000) (524,000) (717,000) ------------- ------------- ------------- Net earnings ..................................................... 87,266,000 60,195,000 50,657,000 Conversion of partner's interest into common stock .......................................................... -- -- (46,364,000) ------------- ------------- ------------- Net earnings available to shareholders ........................... $ 87,266,000 $ 60,195,000 $ 4,293,000 ============= ============= ============= Basic weighted average number of shares outstanding ................................................... 77,426,000 77,736,000 74,360,000 ============= ============= ============= Basic earnings per share: Earnings after conversion of partner's interest into common stock and before extraordinary items ....................................................... $ 1.13 $ .78 $ .07 Extraordinary items, net of income taxes ...................... -- (.01) (.01) ------------- ------------- ------------- Net earnings available to shareholders ........................ $ 1.13 $ .77 $ .06 ============= ============= ============= Diluted weighted average number of shares outstanding ................................................... 80,160,000 80,961,000 77,991,000 ============= ============= ============= Diluted earnings per share: Earnings after conversion of partner's interest into common stock and before extraordinary items ........................................ $ 1.09 $ .75 $ .07 Extraordinary items, net of income taxes ...................... -- (.01) (.01) ------------- ------------- ------------- Net earnings available to shareholders ........................ $ 1.09 $ .74 $ .06 ============= ============= =============