EX-11 18 dex11.txt STATEMENT RE COMPUTATION OF PER SHARE EARNINGS EXHIBIT 11 Computatio n of Net Income Per Common Share (Dollars in millions, except per-share data; shares in thousands) ----------------------------------------------------------------- I. Basic Net Income (Loss) Per Common Share Income from continuing operations Accrued dividends on ESOP preferred stock, net Accrued dividends on redeemable preferred stock Adjusted income from continuing operations Discontinued operations Adjusted net income (loss) Average common shares outstanding during the period Common shares issuable with respect to exchangeable shares Adjusted average shares outstanding for the period Basic earnings (loss) per share: Continuing operations Discontinued operations Basic earnings (loss) per share II. Diluted Net Income (Loss) Per Common Share Income from continuing operations Accrued dividends on ESOP preferred stock, net Accrued dividends on redeemable preferred stock ESOP expense adjustment, net of tax Interest on convertible debt, net of tax Adjusted income from continuing operations Discontinued operations Adjusted net income (loss) Average common shares outstanding during the period Common shares issuable with respect to: Stock options, incentive and exchangeable shares Convertible debt ESOP preferred stock Adjusted average shares outstanding for the period Diluted earnings (loss) per share: Continuing operations Discontinued operations Diluted earnings (loss) per share Page 82 2000 1999 1998 1997 1996 ---------------------------------------------------------------------- $ (257) $ 1,339 $ 463 $ 1,452 $ 1,206 (35) (38) (46) (44) (43) - - - - (1) ---------------------------------------------------------------------- (292) 1,301 417 1,408 1,162 - - (190) - - ---------------------------------------------------------------------- $ (292) $ 1,301 $ 227 $ 1,408 $ 1,162 ====================================================================== 666,663 661,917 655,676 649,608 648,924 918 1,576 3,280 3,763 5,464 ---------------------------------------------------------------------- 667,581 663,493 658,956 653,371 654,388 ====================================================================== $ (.44) $ 1.96 $ .63 $ 2.16 $ 1.78 - - (.29) - - ---------------------------------------------------------------------- $ (.44) $ 1.96 $ .34 $ 2.16 $ 1.78 ====================================================================== $ (257) $ 1,339 $ 463 $ 1,452 $ 1,206 (35) - (46) - - - - - - (1) - 5 - - (3) - 17 3 3 3 ---------------------------------------------------------------------- (292) 1,361 420 1,455 1,205 - - (190) - - ---------------------------------------------------------------------- $ (292) $ 1,361 $ 230 $ 1,455 $ 1,205 ====================================================================== 666,663 661,917 655,676 649,608 648,924 918 10,303 13,091 11,691 16,106 - 13,191 5,287 5,287 5,288 - 51,989 - 54,687 55,962 ---------------------------------------------------------------------- 667,581 737,400 674,054 721,273 726,280 ====================================================================== $ (.44) $ 1.85 $ .62 $ 2.02 $ 1.66 - - (.28) - - ---------------------------------------------------------------------- $ (.44) $ 1.85 $ .34 $ 2.02 $ 1.66 ====================================================================== Page 83