EX-11 2 dex11.txt STATEMENT RE: COMPUTATIONS OF PER SHARE EARNINGS Exhibit 11 STATEMENT RE: COMPUTATIONS OF PER SHARE EARNINGS -------------------------------------------------------------------------------- (Amounts in thousands except per share data)
For the Quarter Ended March 31, 2001 2000 ---------------- ---------------- Numerator: Net income available to common shareholders $17,659 $19,195 Less adjustment for gain (loss) on sales of investments in rental properties available to common shareholders - - ---------------- ---------------- Numerator for basic earnings per share-income from continuing operations available to common shareholders 17,659 19,195 Effect of dilutive securities: Minority interest in income convertible into common shares 884 1,286 ---------------- ---------------- Numerator for diluted earnings per share $18,543 $20,481 ================ ================ Denominator: Denominator for basic earnings per share - weighted average shares 46,230 44,710 Effect of dilutive securities: Weighted average convertible operating company units 2,000 3,040 Stock options 450 110 ---------------- ---------------- Dilutive potential common shares 2,450 3,150 ---------------- ---------------- Denominator for diluted earnings per share-adjusted for weighted average shares and assumed conversion 48,680 47,860 ================ ================ Basic earnings per share excluding gain (loss) on sale $ 0.38 $ 0.43 ================ ================ Diluted earnings per share excluding gain (loss) on sale $ 0.38 $ 0.42 ================ ================