Effect of dilutive securities: Eller put/call option agreement (1,060) -- --------- -------- Numerator for net income per common share - diluted $ 4,519 $ 7,599 ======== ======== Denominator: Weighted average common shares 98,493 77,191
EXHIBIT 11 - COMPUTATION OF EARNINGS PER SHARE
In thousands of dollars, except per share data
Three months ended
March 31,
1998 1997
---- ----
Numerator:
Net income $ 5,579 $ 7,599
Effect of dilutive securities:
▇▇▇▇▇ put/call option agreement (1,060) --
--------- --------
Numerator for net income per
common share - diluted $ 4,519 $ 7,599
======== ========
Denominator:
Weighted average common shares 98,493 77,191
Effect of dilutive securities:
Employee stock options 2,134 1,001
▇▇▇▇▇ put/call option agreement 1,081 --
-------- ---------
Dilutive potential common shares 3,215 1,001
Denominator for net income
per common share - diluted 101,708 78,192
======== ========
Net income per common share:
Basic $ ..06 $ .10
======== ========
Diluted $ ..04 $ .10
======== ========
EXHIBIT 12 - COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
3 months ended
March 31, Year Ended
----------------- ---------------------------------------------------
1998 1997 1997 1996 1995 1994 1993
------ ------ ----- ------ ------ ------ ------
Income before income
taxes 8,042 11,647 104,077 71,240 49,817 36,396 15,696
Dividends and other received from
nonconsolidated affiliates 0 0 4,624 10,430 1,432
-------- -------- ------- ------- -------- -------- --------
Total 8,042 11,647 108,701 81,670 51,249 36,396 15,696
Fixed Charges
Interest expense 25,701 11,046 75,076 30,080 20,752 7,669 5,390
Amortization of loan fees 424 177 1,451 506 1,004 82 5
Interest portion of rentals 1,480 136 6,120 424 361 262 188
Total fixed charges 27,605 11,359 82,647 31,010 22,117 8,013 5,583
Preferred stock dividends
Tax effect of preferred dividends 0 0 0 0 0 0 0
After tax preferred dividends 0 0 0 0 0 0 0
Total fixed charges and
preferred dividends 27,605 11,359 82,647 31,010 22,117 8,013 5,583
Total earnings available for
payment of fixed charges 35,647 23,006 191,348 112,680 73,366 44,409 21,279
===== ===== ===== ===== ===== ===== =====
Ratio of earnings to fixed
Charges 1.29 2.03 2.32 3.63 3.32 5.54 3.81
===== ===== ===== ===== ===== ===== =====
Rental fees and charges 18,503 1,702 76,500 5,299 4,510 3,273 2,344
Interest rate 8% 8% 8% 8% 8% 8% 8%
EXHIBIT 27 - FINANCIAL DATA SCHEDULE
FISCAL-YEAR-END DEC-31-1998
PERIOD-END MARCH-31-1998
CASH 25775087
SECURITIES 0
RECEIVABLES 132277397
ALLOWANCES 11844288
INVENTORY 0
CURRENT-ASSETS 173675852
PP&E 1004361666
DEPRECEATION 145461254
TOTAL-ASSETS 3599626655
CURRENT-LIABILITIES 70842622
BONDS 1110289145
PREFERRED-MANDATORY 0
PREFERRED 0
COMMON 10467782
OTHER-SE 2328102718
TOTAL-LIABILITY-AND-EQUITY 3599626655
SALES 0
TOTAL-REVENUES 203642392
CGS 0
TOTAL-COSTS 123774052
OTHER-EXPENSES 3115221
LOSS-PROVISION 0
INTEREST-EXPENSE 25701262
INCOME-PRETAX 8041449
INCOME-TAX 4259126
INCOME-CONTINUING 5578706
DISCONTINUED 0
EXTRAORDINARY 0
CHANGES 0
NET-INCOME 5578706
EPS-BASIC .06
EPS-DILUTED .04