EXHIBIT 11.1 AMERICREDIT CORP. STATEMENT RE COMPUTATION OF PER SHARE EARNINGS (dollars in thousands, except per share amounts) Three Months Ended September 30, ----------------------------- 1998 1997 ---- ---- Weighted average shares outstanding 62,339,479 58,959,096 Incremental shares resulting from assumed exercise of stock options 4,629,212 5,024,820 ---------- ---------- Weighted average shares and assumed incremental shares 66,968,691 63,983,916 ---------- ---------- ---------- ---------- NET INCOME $15,482 $10,230 ---------- ---------- ---------- ---------- EARNINGS PER SHARE: Basic $ .25 $ .17 ---------- ---------- ---------- ---------- Diluted $ .23 $ .16 ---------- ---------- ---------- ---------- Basic earnings per share have been computed by dividing net income by the weighted average shares outstanding. Diluted earnings per share have been computed by dividing net income by the weighted average shares and assumed incremental shares. 32