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Exhibit 11
METRIS COMPANIES INC. AND SUBSIDIARIES
Computation of Earnings Per Share
In thousands, except per-share amounts Three Months Ended September 30, Nine Months Ended September 30,
2000 1999 2000 1999
---- ---- ---- ----
BASIC:
<S> <C> <C> <C> <C>
Net income (loss) applicable to common stockholders $ 40,324 $ 24,001 $123,194 $ (88,253)
========= ========= ======== =========
Weighted average number of common shares outstanding 61,293 57,877 59,371 57,841
Net income (loss) per share ........................ $ 0.66 $ 0.41 $ 2.07 $ (1.53)
DILUTED:
Net income applicable to common stockholders (1) ... $ 48,360 $ 31,183 $146,598 $ (88,253)
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Weighted average number of common shares outstanding 61,293 57,877 59,371 57,841
Net effect of assumed exercise of stock options
based on treasury stock method using average
market price .................................. 2,987 3,549 3,112 --
Assumed conversion of convertible preferred stock .. 29,164 25,689 29,164 --
--------- --------- -------- ---------
93,444 87,115 91,647 57,841
========= ========= ======== =========
Net income per share ............................... $ 0.52 $ 0.36 $ 1.60 $ (1.53)
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(1) For the three- and nine-month periods ended September 30, 2000, diluted
earnings per share is calculated by adding back the Series C convertible
preferred dividend of $8.0 million and $23.4 million, respectively. In
determining the number of dilutive shares outstanding, the Series C
convertible preferred stock is assumed to have been converted into 29.2
million shares at the beginning of the period.
