EX-11 5 c03264exv11.txt STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS EXHIBIT 11 MGIC INVESTMENT CORPORATION AND SUBSIDIARIES STATEMENT RE COMPUTATION OF PER SHARE EARNINGS (1) FOR THE YEARS ENDED DECEMBER 31, 2005, 2004 AND 2003
2005 2004 2003 ----------- ----------- ------------ (IN THOUSANDS, EXCEPT PER SHARE DATA) BASIC EARNINGS PER SHARE Average common shares outstanding 91,787 97,549 98,776 ----------- ----------- ------------ Net income $ 626,873 $ 553,186 $ 493,879 ----------- ----------- ------------ Basic earning per share $ 6.83 $ 5.67 $ 5.00 ----------- ----------- ------------ DILUTED EARNINGS PER SHARE Adjusted weighted average shares outstanding: Average common shares outstanding 91,787 97,549 98,776 Common stock equivalents 656 696 246 ----------- ----------- ------------ Adjusted weighted average diluted shares outstanding 92,443 98,245 99,022 ----------- ----------- ------------ Net income $ 626,873 $ 553,186 $ 493,879 ----------- ----------- ------------ Diluted earnings per share $ 6.78 $ 5.63 $ 4.99 ----------- ----------- ------------
(1) Per Statement of Financial Accounting Standards No. 128, "Earnings Per Share".