EX-11 5 d23285exv11.txt STATEMENT OF COMPUTATION PER SHARE EARNINGS . . . EXHIBIT 11 - Computation of Per Share Earnings
(In thousands, except per share data) 2004 2003 2002 ------------ ----------- ------------- NUMERATOR: Income before cumulative effect of a change in accounting principle $ 845,799 $ 1,145,591 $ 724,823 Cumulative effect of a change in accounting principle (4,883,968) -- (16,778,526) ------------ ----------- ------------- Net income (loss) (4,038,169) 1,145,591 (16,053,703) Effect of dilutive securities: Convertible debt - 2.625% issued in 1998 -- 2,106 8,931 Convertible debt - 1.5% issued in 1999 -- -- 7,704 LYONS - 1998 issue -- 1,446 4,815 Less: Anti-dilutive items -- -- (4,815) ------------ ----------- ------------- Numerator for net income before cumulative effect of a change in accounting principle per common share - diluted 845,799 1,149,143 741,458 Numerator for cumulative effect of a change in accounting principle per common share - diluted (4,883,968) -- (16,778,526) ------------ ----------- ------------- Numerator for net income (loss) per common share - diluted $ (4,038,169) $ 1,149,143 $ (16,037,068) ============ =========== ============= DENOMINATOR: Weighted average common shares 596,126 614,651 606,861 Effect of dilutive securities: Stock options and common stock warrants 2,149 3,167 3,911 Convertible debt - 2.625% issued in 1998 -- 2,060 8,855 Convertible debt - 1.5% issued in 1999 -- -- 7,813 LYONS - 1998 issue -- 892 3,085 Less: Anti-dilutive items -- -- (3,085) ------------ ----------- ------------- Denominator for net income (loss) per common share - diluted 598,275 620,770 627,440 ============ =========== ============= Net income (loss) per common share: Income before cumulative effect of a change in accounting principle - Basic $ 1.42 $ 1.86 $ 1.20 Cumulative effect of a change in accounting principle - Basic (8.19) -- (27.65) ------------ ----------- ------------- Net income (loss) - Basic $ (6.77) $ 1.86 $ (26.45) ============ =========== ============= Income before cumulative effect of a change in accounting principle - Diluted $ 1.41 $ 1.85 $ 1.18 Cumulative effect of a change in accounting principle - Diluted (8.16) -- (26.74) ------------ ----------- ------------- Net income (loss) - Diluted $ (6.75) $ 1.85 $ (25.56) ============ =========== =============
* Denotes items that are anti-dilutive to the calculation of earnings per share.