                               |
NOTE 6. EARNINGS PER SHARE
The following tables set forth the computation of basic and diluted earnings per share:
|
June 30, |
|
|
|
|
|
2000 |
|
1999 |
|
1998 |
|
|
|
| BASIC EARNINGS PER SHARE |
|
|
|
|
|
|
| Numerator: |
|
|
|
|
|
|
| Income per common share before extraordinary item |
$ |
133.0 |
$ |
32.7 |
$ |
5.5 |
| Preferred stock dividends |
|
— |
|
(3.6) |
|
(5.3) |
|
|
|
|
Numerator for basic earnings per share—income attributable to common shares before extraordinary item |
|
133.0 |
|
29.1 |
|
0.2 |
| Extraordinary loss, net of tax benefit |
|
(4.3) |
|
(19.2) |
|
— |
|
|
|
|
Numerator for basic earnings per share—income attributable to common shares |
$ |
128.7 |
$ |
9.9 |
$ |
0.2 |
|
|
|
| Denominator: |
|
|
|
|
|
|
|
Denominator for basic earnings per share—weighted average shares |
52,192,676 |
41,979,665 |
31,619,642 |
|
|
|
| Basic income per common share before extraordinary item |
$ |
2.55 |
$ |
0.69 |
$ |
0.01 |
| Extraordinary loss per common share, net of tax benefit |
|
(0.08) |
|
(0.46) |
|
— |
|
|
|
| Basic income per common share |
$ |
2.47 |
$ |
0.23 |
$ |
0.01 |
|
|
|
|
| DILUTED EARNINGS PER SHARE |
|
|
|
|
|
|
| Numerator: |
|
|
|
|
|
|
| Income per common share before extraordinary item |
$ |
133.0 |
$ |
32.7 |
$ |
5.5 |
| Preferred stock dividends |
|
— |
|
(3.6) |
|
(5.3) |
|
|
|
|
Numerator for diluted earnings per share—income attributable to common shares before extraordinary item |
|
133.0 |
|
29.1 |
|
0.2 |
| Extraordinary loss, net of tax benefit |
|
(4.3) |
|
(19.2) |
|
— |
|
|
|
|
Numerator for diluted earnings per share—income attributable to common shares |
$ |
128.7 |
$ |
9.9 |
$ |
0.2 |
|
|
|
| Denominator: |
|
|
|
|
|
|
|
Weighted average shares |
52,192,676 |
41,979,665 |
31,619,642 |
|
Effect of dilutive securities—stock options |
|
905,222 |
|
988,987 |
|
735,489 |
|
|
|
|
Denominator for diluted earnings per share—weighted average shares |
53,097,898 |
42,968,652 |
32,355,131 |
|
|
|
| Diluted income per common share before extraordinary item |
$ |
2.50 |
$ |
0.68 |
$ |
0.01 |
| Extraordinary loss per common share, net of tax benefit |
|
(0.08) |
|
(0.45) |
|
— |
|
|
|
| Diluted income per common share |
$ |
2.42 |
$ |
0.23 |
$ |
0.01 |
|
|
|
|
|
