Annual Report — Form 10-K
Filing Table of Contents
Document/Exhibit Description Pages Size
1: 10-K Annual Report 37± 164K
2: EX-10.1 Claims Administration Agreement 4± 20K
3: EX-10.2 Administration and Marketing Agreement 8± 39K
4: EX-10.3 Employment Agreement 12± 62K
5: EX-10.4 Employment Agreement 12± 61K
6: EX-11 Statement of Computation of Per Share Earnings 2± 9K
7: EX-13 Annual Report 61± 256K
8: EX-21 Subsidiaries of the Registrant 1 5K
9: EX-23 Consent of Independent Auditors 1 7K
10: EX-24 Power of Attorney 2± 11K
11: EX-27 Financial Data Schedule 2± 8K
EX-11 — Statement of Computation of Per Share Earnings
EXHIBIT 11
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STATEMENT OF COMPUTATION OF PER SHARE EARNINGS
Life USA HOLDING, INC.
(Dollars in thousands, except per share amounts)
Year ended December 31,
-----------------------------------------
1996 1995 1994
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PRIMARY
Average shares outstanding and to be issued 20,767,538 20,270,532 20,124,556
Net effect of dilutive stock options and warrants having
exercise prices less than the average market price
of the common stock using the treasury stock method 163,482 166,688 284,491
Common equivalent shares assuming conversion
of convertible subordinated debentures 2,419,411 2,084,384 --
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Total common and common equivalent shares 23,350,431 22,521,604 20,409,047
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Net income $ 23,454 $ 19,097 $ 14,469
Add convertible subordinated debenture interest,
net of federal income tax effect 870 757 --
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Adjusted net income $ 24,324 $ 19,854 $ 14,469
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Per common and common equivalent share amount $ 1.04 $ .88 $ .71
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FULLY DILUTED
Average shares outstanding and to be issued 20,767,538 20,270,532 20,124,556
Net effect of dilutive stock options and warrants,
having exercise prices less than the greater of
the average or the end of period market price of
the common stock using the treasury stock method 215,897 172,547 300,365
Common equivalent shares assuming conversion
of convertible subordinated debentures 2,419,411 2,084,384 --
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Total common and common equivalent shares 23,402,846 22,527,463 20,424,921
=========== =========== ===========
Net income $ 23,454 $ 19,097 $ 14,469
Add convertible subordinated debenture interest,
net of federal income tax effect 870 757 --
----------- ----------- -----------
Adjusted net income $ 24,324 $ 19,854 $ 14,469
=========== =========== ===========
Per common and common equivalent share amount $ 1.04 $ .88 $ .71
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