EX-11 3 ex11-1form10k_2005.txt EXHIBIT 11.1 EXHIBIT 11.1 ------------
NEXEN INC. STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE - U.S. GAAP FOR THE YEAR ENDED DECEMBER 31, 2005 (Amounts in Cdn$ millions except per share amounts) 2005 2004 2003 ------------------------------------------------------------- ---------- ---------- Quarter 1 Quarter 2 Quarter 3 Quarter 4 Annual Annual Annual ------------------------------------------------------------- ---------- ---------- Net income from continuing operations available to common stockholders (U.S. GAAP) $ 8 $ 158 $ 196 $ 296 $ 658 $ 705 $ 419 ---------------------------------------------------------- ---------- ---------- Net income available to common stockholders (U.S. GAAP) $ 26 $ 188 $ 600 $ 296 $1,110 $ 788 $ 420 ------------------------------------------------------------ ---------- ---------- BASIC Weighted average number of common shares outstanding (thousands) 259.4 260.2 260.6 261.0 260.4 257.3 247.5 BASIC EARNINGS PER SHARE FROM CONTINUING OPERATIONS $ 0.03 $ 0.61 $ 0.75 $ 1.13 $ 2.52 $ 2.74 $ 1.69 ========================================================== ========== ========== BASIC EARNINGS PER SHARE $ 0.10 $ 0.72 $ 2.31 $ 1.13 $ 4.26 $ 3.06 $ 1.70 ========================================================== ========== ========== DILUTED Weighted average number of common shares outstanding (thousands) 259.4 260.2 260.6 261.0 260.4 257.3 247.5 Net additional shares issuable pursuant to stock options (thousands): Issuable on exercise 14.8 13.9 12.9 12.3 13.4 13.1 12.6 Re-purchasable from proceeds (10.7) (9.7) (6.4) (6.0) (7.4) (9.8) (10.2) ---------------------------------------------------------- ---------- ---------- Net dilutive effect of stock options (thousands) 4.1 4.2 6.5 6.3 6.0 3.3 2.4 ------------------------------------------------------------ ---------- ---------- Adjusted number of common shares (thousands) 263.5 264.4 267.1 267.3 266.4 260.6 249.9 DILUTED EARNINGS PER SHARE FROM CONTINUING OPERATIONS $ 0.03 $ 0.60 $ 0.73 $ 1.11 $ 2.47 $ 2.71 $ 1.68 ========================================================== ========== ========== DILUTED EARNINGS PER SHARE $ 0.10 $ 0.71 $ 2.25 $ 1.11 $ 4.17 $ 3.03 $ 1.68 ========================================================== ========== ==========