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EXHIBIT 11 - Computation of Per Share Earnings
In thousands of dollars, except per share data
1998 1997 1996
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NUMERATOR:
Net income $ 54,031 $ 63,576 $ 37,696
Effect of dilutive securities:
▇▇▇▇▇ put/call option agreement (4,299) (2,577) --
Convertible debt 7,358 -- --
--------- --------- ---------
3,059 (2,577) --
Numerator for net income per
common share - diluted $ 57,090 $ 60,999 $ 37,696
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DENOMINATOR:
Weighted average common shares 236,060 176,960 146,844
Effect of dilutive securities:
Employee stock options 4,098 4,440 2,416
▇▇▇▇▇ put/call option agreement 1,972 1,630 --
Convertible debt 6,993 -- --
--------- --------- ---------
13,063 6,070 2,416
Denominator for net income
per common share - diluted 249,123 183,030 149,260
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Net income per common share:
Basic $ .23 $ .36 $ .26
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Diluted $ .22 $ .33 $ .25
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