EXHIBIT 11
INTERRA FINANCIAL AND SUBSIDIARIES
COMPUTATION OF NET EARNINGS PER SHARE
(UNAUDITED, IN THOUSANDS, EXCEPT PER-SHARE AMOUNTS)
THREE MONTHS ENDED NINE MONTHS ENDED
SEPTEMBER 30, SEPTEMBER 30,
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1997 1996 1997 1996
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Primary earnings per share:
Net earnings. . . . . . . . . . . . . . . . . . . . . $ 7,056 $ 12,990 $ 33,948 $ 41,098
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Average number of common and common
equivalent shares outstanding:
Average common shares outstanding . . . . . . . . . . 12,294 12,155 12,260 12,121
Stock options . . . . . . . . . . . . . . . . . . . . 718 511 707 453
Shares credited to deferred compensation
Plan participants. . . . . . . . . . . . . . . . . 214 111 199 92
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13,226 12,777 13,166 12,666
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Primary earnings per share . . . . . . . . . . . . . . . $ .53 $ 1.02 $ 2.58 $ 3.24
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Earnings per share assuming
full dilution:
Net earnings. . . . . . . . . . . . . . . . . . . . . $ 7,056 $ 12,990 $ 33,948 $ 41,098
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Average number of common and common
equivalent shares outstanding:
Average common shares outstanding . . . . . . . . . . 12,294 12,155 12,260 12,121
Stock options . . . . . . . . . . . . . . . . . . . . 892 654 921 676
Shares credited to deferred compensation
Plan participants. . . . . . . . . . . . . . . . . 214 111 199 92
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13,400 12,920 13,380 12,889
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Fully diluted earnings per share . . . . . . . . . . . . $ .53 $ 1.01 $ 2.54 $ 3.19
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