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Previous: BRE PROPERTIES INC /MD/, 10-Q, EX-10.2, 2000-08-14 |
Next: BRE PROPERTIES INC /MD/, 10-Q, EX-27, 2000-08-14 |
<PAGE>
Exhibit 11
STATEMENT RE: COMPUTATIONS OF PER SHARE EARNINGS
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(Amounts in thousands except per share data)
<TABLE>
<CAPTION>
For the Quarter Ended June 30,
2000 1999
----------------------- ----------------------
<S> <C> <C>
Numerator:
Net income available to common shareholders $17,997 $17,038
Less adjustment for gain (loss) on sales of investments in
rental properties available to common shareholders - -
----------------------- ----------------------
Numerator for basic earnings per share income from continuing
operations available to common shareholders 17,997 17,038
Effect of dilutive securities:
Minority interest in income convertible into common shares 1,285 1,192
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Numerator for diluted earnings per share $19,282 $18,230
======================= ======================
Denominator:
Denominator for basic earnings per share - weighted average
shares 44,780 44,570
Effect of dilutive securities:
Weighted average convertible operating company units 3,010 3110
Stock options 420 170
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Dilutive potential common shares 3,430 3,280
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Denominator for diluted earnings per share adjusted for
weighted average shares and assumed conversion 48,210 47,850
======================= ======================
Basic earnings per share excluding gains (loss) on sale $ 0.40 $ 0.38
======================= =====================
Diluted earnings per share excluding gains (loss) on sale $ 0.40 $ 0.38
<CAPTION>
For the Six Months Ended June 30,
2000 1999
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<S> <C> <C>
Numerator:
Net income available to common shareholders $37,192 $32,378
Less adjustment for gain (loss) on sales of investments in
rental properties available to common shareholders - -
----------------------- ----------------------
Numerator for basic earnings per share income from continuing
operations available to common shareholders 37,192 32,378
Effect of dilutive securities:
Minority interest in income convertible into common shares 2,571 2,441
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Numerator for diluted earnings per share $39,763 $34,819
======================= ======================
Denominator:
Denominator for basic earnings per share - weighted average
shares 44,750 44,430
Effect of dilutive securities:
Weighted average convertible operating company units 3,020 3,140
Stock options 230 170
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Dilutive potential common shares 3,250 3,310
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Denominator for diluted earnings per share adjusted for
weighted average shares and assumed conversion 48,000 47,740
======================= ======================
Basic earnings per share excluding gains (loss) on sale $ 0.83 $ 0.73
======================= ======================
Diluted earnings per share excluding gains (loss) on sale $ 0.83 $ 0.73
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</TABLE>
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