EX-11 3 dex11.txt COMPUTATION OF EARNINGS PER SHARE Exhibit 11 ALFA CORPORATION STATEMENT OF COMPUTATION OF PER SHARE EARNINGS The following computations set forth the calculation of basic and diluted net income per common share and common share equivalents for the six month and three month periods ended June 30, 2001 and 2000:
Six Months Ended Three Months Ended June 30, June 30, --------------------------- --------------------------- 2001 2000 2001 2000 --------------------------- -------------------------- Net income $31,747,736 $37,185,429 $17,414,060 $20,835,254 =========== =========== =========== =========== Weighted average number of common shares outstanding 39,160,202 39,267,605 39,166,321 39,097,428 =========== =========== =========== =========== Net income per common share - Basic $0.81 $0.95 $0.44 $0.53 =========== =========== =========== =========== Six Months Ended Three Months Ended June 30, June 30, --------------------------- --------------------------- 2001 2000 2001 2000 --------------------------- -------------------------- Net income $31,747,736 $37,185,429 $17,414,060 $20,835,254 =========== =========== =========== =========== Weighted average number of common shares outstanding 39,160,202 39,267,605 39,166,321 39,097,428 Common share equivalents resulting from: Dilutive stock options 290,932 215,647 314,369 231,757 ----------- ----------- ----------- ----------- Adjusted weighted average number of common and common equivalent shares outstanding 39,451,134 39,483,252 39,480,690 39,329,185 =========== =========== =========== =========== Net income per common share - Diluted $0.80 $0.94 $0.44 $0.53 =========== =========== =========== ===========