EX-11 7 ex11.htm EXHIBIT 11 Exhibit 11

Exhibit 11


Earnings Per Share Calculations
(in thousands, except per share amounts)

 
Fiscal Year Ended  
 
 
  

Dec 31, 

    
Dec 31,
   
Dec 31,
 
 
  
2003
   
2002
   
2001
 
 
 
 
 
Basic:
 
 
    
 
    
 
  
 
  
   
   
 
Net Income
$
81,730
 
$
66,612
 
$
55,282
 
 
 
 
 
Weighted average shares outstanding
 
14,428
   
15,104
   
15,092
 
 
  
 
    
 
    
 
Basic earnings per common share
$
5.66
 
$
4.41
 
$
3.66
 
 
 
 
 
Diluted:
 
 
    
 
    
 
 
  
 
    
 
    
 
Net income
$
81,730
 
$
66,612
 
$
55,282
 
 
  
 
    
 
    
 
Weighted average shares outstanding
 
14,428
   
15,104
   
15,092
 
 
  
 
    
 
    
 
Dilutive effect of stock options
 
167
   
140
   
186
 
 
  
 
    
 
    
 
Dilutive effect of deferred stock
 
230
   
261
   
252
 
 
 
 
 
Diluted weighted average shares outstanding
 
14,825
   
15,505
   
15,530
 
 
 
 
 
Diluted earnings per Common Share
$
5.51
 
$
4.30
 
$
3.56