EXHIBIT 11.1
AMERICREDIT CORP.
STATEMENT RE COMPUTATION OF PER SHARE EARNINGS
(dollars in thousands, except per share amounts)
Three Months Ended
September 30,
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1997 1996
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PRIMARY:
Average common shares
outstanding 29,479,547 28,372,506
Common share equivalents
resulting from assumed
exercise of stock options 2,512,411 1,746,433
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Average common shares and
share equivalents
outstanding 31,991,958 30,118,939
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FULLY DILUTED:
Average common shares
outstanding 29,479,547 28,372,506
Common share equivalents
resulting from assumed
exercise of stock options 2,729,403 2,006,421
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Average common shares and share
equivalents outstanding 32,208,950 30,378,927
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NET INCOME $13,194 $8,072
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EARNINGS PER SHARE:
Primary $ .41 $ .27
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Fully diluted $ .41 $ .27
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Primary earnings per share has been computed by dividing net income by the
average common shares and share equivalents outstanding. Common share
equivalents were computed using the treasury stock method. The average
common stock market price for the period was used to determine the number of
common share equivalents.
Fully diluted earnings per share has been computed in the same manner as
primary earnings per share except that the higher of the average or end of
28
period common stock market price was used to determine the number of common
share equivalents.
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