EXHIBIT 11
STATEMENT RE: COMPUTATION OF PER-SHARE EARNINGS
YEAR ENDED DECEMBER 31,
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1998 1997 1996
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Net earnings available to common before gain on asset
dispositions........................................... $41,777 $41,305 $34,590
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Net earnings.............................................. $68,015 $41,305 $34,590
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Average shares outstanding................................ 20,034 19,085 17,196
Basic per-share amounts:
Net earnings.............................................. $ 3.39 $ 2.16 $ 2.01
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Net earnings before gain on asset dispositions............ $ 2.09 $ 2.16 $ 2.01
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Average shares outstanding................................ 20,034 19,085 17,196
Stock option incremental shares........................... 7 52 44
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Average shares outstanding, diluted.................... 20,041 19,137 17,240
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Diluted per-share amounts:
Net earnings.............................................. $ 3.39 $ 2.16 $ 2.01
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Net earnings before asset dispositions.................... $ 2.08 $ 2.16 $ 2.01
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Diluted assuming conversion of debt:
Net earnings before gain on asset dispositions............ $41,777 $41,305 $34,590
Add interest expense associated with Convertible
Debentures............................................. 4,714 6,279 7,778
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Total............................................. $46,491 $47,584 $42,368
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Average shares outstanding................................ 20,034 19,085 17,196
Assumed conversion of debentures.......................... 1,899 2,583 3,095
Stock option incremental shares........................... 7 52 72
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Total............................................. 21,940 21,720 20,363
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Per-share amount (antidilutive)........................... $ 2.12 $ 2.19 $ 2.08
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