EX-11 3 dex11.txt COMPUTATION OF CONSOLIDATED EARNINGS EXHIBIT 11 ---------- FIFTH THIRD BANCORP COMPUTATION OF CONSOLIDATED EARNINGS PER SHARE FOR THE YEARS ENDED DECEMBER 31 ($ and share data in thousands, except per share data)
2001 2000 1999 1998 1997 ---------- --------- ------- ------- ------- Net Income Available to Common Shareholders $1,093,031 1,140,493 946,607 806,910 776,470 ========== ========= ======= ======= ======= Earnings per share: Weighted average number of shares outstanding (a) 575,254 565,686 562,041 558,534 557,882 ========== ========= ======= ======= ======= Per share (net income divided by the weighted average number of shares outstanding) $ 1.90 2.02 1.68 1.44 1.39 ========== ========= ======= ======= ======= Earnings per diluted share: Net income $1,093,031 1,140,493 946,607 806,910 776,470 Add - Interest on 6% convertible subordinated notes due 2028 and preferred dividends, net of applicable income taxes 5,500 7,308 7,308 3,944 580 ---------- --------- ------- ------- ------- Adjusted net income $1,098,531 1,147,801 953,915 810,854 777,050 ========== ========= ======= ======= ======= Adjusted weighted average number of shares outstanding - after giving effect to the conversion of stock options, convertible subordinated notes and preferred dividends (a) 591,316 578,973 575,895 571,085 566,575 ========== ========= ======= ======= ======= Per share (adjusted net income divided by the adjusted weighted average number of shares outstanding) $ 1.86 1.98 1.66 1.42 1.37 ========== ========= ======= ======= =======
---------- (a) Per share amounts and average shares outstanding have been adjusted for the three-for-two stock splits effected in the form of stock dividends paid July 14, 2000, April 15, 1998 and July 15, 1997. 41