EX-11 2 d44046exv11.htm STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS exv11
 

EXHIBIT 11 — Computation of Per Share Earnings
(In thousands, except per share data)
                         
    2006     2005     2004  
NUMERATOR:
                       
Income before discontinued operations and cumulative effect of a change in accounting principle
  $ 688,762     $ 633,648     $ 794,454  
Income from discontinued operations, net
    2,755       302,014       51,345  
Cumulative effect of a change in accounting principle
                (4,883,968 )
 
                 
Net income (loss)
    691,517       935,662       (4,038,169 )
 
                       
Effect of dilutive securities:
                       
None
                 
 
                 
Numerator for net income before cumulative effect of a change in accounting principle per common share — diluted
    691,517       935,662       845,799  
Numerator for cumulative effect of a change in accounting principle per common share — diluted
                (4,883,968 )
 
                 
Numerator for net income (loss) per common share — diluted
  $ 691,517     $ 935,662     $ (4,038,169 )
 
                 
 
                       
DENOMINATOR:
                       
Weighted average common shares
    500,786       545,848       596,126  
 
                       
Effect of dilutive securities:
                       
Stock options and common stock warrants
    853       1,303       2,149  
 
                 
Denominator for net income (loss) per common share — diluted
    501,639       547,151       598,275  
 
                 
 
                       
Net income (loss) per common share:
                       
Income before discontinued operations and cumulative effect of a change in accounting principle — Basic
  $ 1.37     $ 1.16     $ 1.33  
Discontinued operations — Basic
    .01       .55       .09  
Cumulative effect of a change in accounting principle — Basic
                (8.19 )
 
                 
Net income (loss) — Basic
  $ 1.38     $ 1.71     $ (6.77 )
 
                 
 
                       
Income before cumulative effect of a change in accounting principle — Diluted
  $ 1.37     $ 1.16     $ 1.33  
Discontinued operations — Diluted
    .01       .55       .08  
Cumulative effect of a change in accounting principle — Diluted
                (8.16 )
 
                 
Net income (loss) — Diluted
  $ 1.38     $ 1.71     $ (6.75 )