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Previous: ST PAUL COMPANIES INC /MN/, 10-Q, 2000-08-14 |
Next: ST PAUL COMPANIES INC /MN/, 10-Q, EX-12, 2000-08-14 |
<PAGE>
Exhibit 11
THE ST. PAUL COMPANIES, INC. AND SUBSIDIARIES
Computation of Earnings Per Share
Three Months Ended Six Months Ended
June 30 June 30
------------------ ----------------
2000 1999 2000 1999
------ ------ ------ ------
(In millions, except per share data)
EARNINGS
Basic:
Net income, as reported $212 $204 $569 $369
Dividends on preferred stock,
net of taxes (2) (2) (4) (4)
Premium on preferred shares redeemed (2) (1) (6) (2)
----- ----- ----- -----
Net income available to
common shareholders $208 $201 $559 $363
===== ===== ===== =====
Diluted:
Net income available to
common shareholders $208 $201 $559 $363
Effect of dilutive securities:
Convertible preferred stock 2 2 3 3
Convertible monthly income
preferred securities 2 2 4 4
Zero coupon convertible notes 1 1 1 2
----- ----- ----- -----
Net income available to
common shareholders $213 $206 $567 $372
===== ===== ===== =====
COMMON SHARES
Basic:
Weighted average common
shares outstanding 212 226 216 228
===== ===== ===== =====
Diluted:
Weighted average common
shares outstanding 212 226 216 228
Effect of dilutive securities:
Stock options 2 2 1 2
Convertible preferred stock 7 7 7 7
Convertible monthly income
preferred securities 7 7 7 7
Zero coupon convertible notes 2 3 3 3
----- ----- ----- -----
Total 230 245 234 247
===== ===== ===== =====
EARNINGS PER SHARE
Basic $0.98 $0.89 $2.59 $1.59
===== ===== ===== =====
Diluted $0.92 $0.84 $2.43 $1.50
===== ===== ===== =====
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