EX-11.0 5 dex110.htm STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS Statement Re: Computation of Per Share Earnings

EXHIBIT 11.0

 

STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS

 

     Years Ended December 31,

(in thousands, except per share amounts)

 

   2004

   2003

   2002

Net income

   $355,086    $323,371    $229,230
    
  
  

Weighted average common shares outstanding

   259,825    189,827    180,894

Basic earnings per common share

   $1.37    $1.70    $1.27
    
  
  

Total weighted average common shares outstanding

   259,825    189,827    180,894

Additional dilutive shares using ending value for the period when utilizing the Treasury stock method regarding stock options and BONUSES Units

   7,013    6,476    2,332
    
  
  

Total shares for fully diluted earnings per share

   266,838    196,303    183,226

Fully diluted earnings per common share and common share equivalents

   $1.33    $1.65    $1.25
    
  
  

 

(1) Share amounts for 2003 and 2002 have been adjusted to reflect 4-for-3 stock splits on February 17, 2004 and May 21, 2003.