Public Storage 2002 Annual Report Download - page 152

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PUBLIC STORAGE, INC.
EXHIBIT 11 - EARNINGS PER SHARE
Exhibit-11
For the Year Ended December 31,
2001 2000 1999
(amounts in thousands, except per share data)
Earnings Per Share:
Net income ..................................................................................... $ 318,738 $ 324,208 $ 297,088
Less: Cumulative Preferred Stock Dividends:
10% Cumulative Preferred Stock, Series A................................ (3,422) (4,563) (4,563)
9.20% Cumulative Preferred Stock, Series B............................. (5,389) (5,488) (5,488)
Adjustable Rate Preferred Stock, Series C ................................. (2,024) (2,024) (2,052)
9.50% Cumulative Preferred Stock, Series D............................. (2,850) (2,850) (2,850)
10.00% Cumulative Preferred Stock, Series E ........................... (5,488) (5,488) (5,488)
9.75% Cumulative Preferred Stock, Series F ............................. (5,606) (5,606) (5,606)
8-7/8% Cumulative Preferred Stock, Series G ........................... - (11,482) (15,309)
8.45% Cumulative Preferred Stock, Series H............................. - (10,853) (14,259)
8-5/8% Cumulative Preferred Stock, Series I............................. - (7,475) (8,625)
8% Cumulative Preferred Stock, Series J................................... (9,200) (12,000) (12,000)
8.25% Cumulative Preferred Stock, Series K............................. (9,488) (9,488) (9,488)
8.25% Cumulative Preferred Stock, Series L ............................ (9,488) (9,488) (9,488)
8.75% Cumulative Preferred Stock, Series M ............................ (4,922) (4,922) (4,922)
8.60% Cumulative Preferred Stock, Series Q............................. (14,835) (14,134) -
8.00% Cumulative Preferred Stock, Series R............................. (40,800) (10,200) -
7.875% Cumulative Preferred Stock, Series S ........................... (11,320) (1,918) -
7.625% Cumulative Preferred Stock, Series T ........................... (11,011) - -
7.625% Cumulative Preferred Stock, Series U........................... (9,849) - -
7.50% Cumulative Preferred Stock, Series V............................. (3,234) - -
Total preferred dividends ............................................................... (148,926) (117,979) (100,138)
$ 169,812 $ 206,229 $ 196,950
Allocation of net income allocable to common shareholders to
classes:
Net income allocable to shareholders of the Equity Stock,
Series A................................................................................
$ 21,501
$ 19,455
$ 11,042
Net income allocable to shareholders of common stock........ 148,311 186,774 185,908
$ 169,812 $ 206,229 $ 196,950
Weighted average common and common equivalent shares
outstanding:
Basic weighted average common shares outstanding................. 123,005 122,310 131,566
Net effect of dilutive stock options - based on treasury stock
method using average market price ........................................
1,566
1,267
91
Diluted weighted average common shares outstanding.............. 124,571 123,577 131,657
Basic earnings per common and common equivalent share........... $ 1.21 $ 1.53 $ 1.41
Diluted earnings per common and common equivalent share........ $ 1.19 $ 1.51 $ 1.41
Note- There are no securities outstanding which would have an anti-dilutive effect upon earnings per common share
in each of the three years ended December 31, 2002.