EX-11 3 dex11.htm COMPUTATION OF EARNINGS PER SHARE Prepared by R.R. Donnelley Financial -- 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, 2002 and 2001:
 
    
Six Months Ended
June 30,
   
Three Months Ended
June 30,
    
2002
   
2001
   
2002
   
2001
Net income
   
$
33,999,486
   
$
31,747,736
   
$
15,531,340
   
$
17,414,060
    
  
  
  
Weighted average number of common shares outstanding
   
 
78,607,284
   
 
78,320,404
   
 
78,771,794
   
 
78,332,642
    
  
  
  
Net income per common share—Basic
   
$
0.43
   
$
0.41
   
$
0.20
   
$
0.22
    
  
  
  
 
    
Six Months Ended
June 30,
   
Three Months Ended
June 30,
    
2002
   
2001
   
2002
   
2001
Net income
   
$
33,999,486
   
$
31,747,736
   
$
15,531,340
   
$
17,414,060
    
  
  
  
Weighted average number of common shares outstanding
   
 
78,607,284
   
 
78,320,404
   
 
78,771,794
   
 
78,332,642
Common share equivalents resulting from:
                            
Dilutive stock options
   
 
825,582
   
 
581,864
   
 
833,485
   
 
628,738
    
  
  
  
Adjusted weighted average number of common and common equivalent shares outstanding
   
 
79,432,866
   
 
78,902,268
   
 
79,605,279
   
 
78,961,380
    
  
  
  
Net income per common share—Diluted
   
$
0.43
   
$
0.40
   
$
0.20
   
$
0.22