EX-11 9 j9926901exv11.htm STATEMENT RE COMPUTATION OF PER SHARE EARNINGS exv11
 

EXHIBIT 11

STATEMENT RE COMPUTATION OF PER SHARE EARNINGS

                           
      2002     2001     2000  
     
   
   
 
Class A weighted average common shares outstanding (stated value $.0292)
    64,121,099       63,974,329       64,586,402  
Class B common shares outstanding (stated value $70)
    2,900       3,070       3,070  
 
Conversion of Class B shares to Class A shares (One share of Class B for 2,400 shares of Class A)
    6,960,000       7,368,000       7,368,000  
 
 
   
   
 
Total
    71,081,099       71,342,329       71,954,402  
 
 
   
   
 
Net income
  $ 172,125,706     $ 122,261,396     $ 152,393,015  
 
 
   
   
 
Per share amount
  $ 2.42     $ 1.71     $ 2.12  
 
 
   
   
 

Beginning in 1999, the Company established a stock repurchase program. The Company could repurchase as much as $120 million of its outstanding Class A common stock through December 31, 2002. In 2002, 207,217 shares were repurchased at a total cost of $8,486,839, or an average price per share of $40.96. Since its inception the Company has repurchased 3,402,894 shares at a total cost of $101,860,014, or an average price per share of $29.93.

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