<TABLE>
<CAPTION>
EXHIBIT 11
Golden West Financial Corporation
Statement of Computation of Basic and Diluted Earnings Per Share
(Dollars in thousands except per share figures)
Three Months Ended Nine Months Ended
September 30 September 30
---------------------------------- ----------------------------------
2000 1999 2000 1999
---------------- --------------- ---------------- ---------------
<S> <C> <C> <C> <C>
Net Earnings $ 137,403 $ 118,071 $ 396,599 $ 360,826
================ =============== ================ ===============
Weighted Average Shares 158,032,942 164,094,096 158,661,510 167,146,773
Add: Options outstanding at period end 6,545,529 6,226,950 6,545,529 6,226,950
Less: Shares assumed purchased back with
proceeds of options exercised 4,483,405 4,831,866 4,992,171 4,844,703
---------------- --------------- ---------------- ---------------
Diluted Average Shares Outstanding 160,095,066 165,489,180 160,214,868 168,529,020
================ =============== ================ ===============
Basic Earnings Per Share $ .87 $ .72 $ 2.50 $ 2.16
================ =============== ================ ===============
Diluted Earnings Per Share $ .86 $ .71 $ 2.48 $ 2.14
================ =============== ================ ===============
</TABLE>