EXHIBIT 11
STATEMENT RE: COMPUTATION OF PER-SHARE EARNINGS
YEAR ENDED DECEMBER 31,
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1997 1996 1995
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(IN THOUSANDS EXCEPT
PER-SHARE DATA)
Net earnings available to common before extraordinary
charge from prepayment of debt......................... $41,305 $34,590 $29,490
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Net earnings.............................................. $41,305 $34,590 $23,011
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Average shares outstanding................................ 19,085 17,196 16,071
Basic per-share amounts:
Net earnings.............................................. $2.16 $2.01 $1.43
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Net earnings before extraordinary charge.................. $2.16 $2.01 $1.83
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Average shares outstanding................................ 19,085 17,196 16,071
Stock option incremental shares........................... 52 44 10
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Average shares outstanding, diluted.................... 19,137 17,240 16,081
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Diluted per-share amounts:
Net earnings.............................................. $2.16 $2.01 $1.43
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Net earnings before extraordinary charge.................. $2.16 $2.01 $1.83
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Diluted assuming conversion of debt:
Net earnings.............................................. $41,305 $34,590
Add interest expense associated with Convertible
Debentures............................................. 6,279 7,778
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Total.................................................. $47,584 $42,368
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Average shares outstanding................................ 19,085 17,196
Assumed conversion of debentures.......................... 2,583 3,095
Stock option incremental shares........................... 52 72
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Total.................................................. 21,720 20,363
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Per-share amount (antidilutive)........................... $2.19 $2.08
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