<TABLE>
Exhibit 11 - COMPUTATION OF PER SHARE EARNINGS
(Thousands of dollars, except per share data)
<CAPTION>
Six Months Ended June 30 Three Months Ended June 30
2000 1999 2000 1999
---------- ---------- ----------- -----------
<S> <C> <C> <C> <C>
BASIC
Average shares outstanding 60,969,469 61,884,046 60,837,740 61,906,626
Net income $37,280 $28,843 $21,240 $12,264
Per share amount $0.61 $0.47 $0.35 $0.20
===== ===== ===== =====
DILUTED
Average shares outstanding 60,969,469 61,884,046 60,837,740 61,906,626
Effect of dilutive securities based on the
treasury stock method using the average
market price if higher than the exercise
price 201,645 238,513 266,108 318,169
---------- ---------- ---------- ----------
61,171,114 62,122,559 61,103,848 62,224,795
Net income $37,280 $28,843 $21,240 $12,264
Per share amount $0.61 $0.46 $0.35 $0.20
===== ===== ===== =====
</TABLE>
