TOLL BROTHERS, INC. & SUBSIDIARIES EXHIBIT 11
STATEMENT: COMPUTATION OF EARNINGS PER SHARE
(In thousands except per share amounts)
YEAR ENDED OCTOBER 31,
1995 1994 1993
Net income per income statement $49,932 $36,177 $28,058
Addback: Interest on
convertible debentures, net
of income taxes 1,585 1,285
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Net income (Fully diluted) $51,517 $37,462 $28,058
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Earnings per share:
Primary $ 1.47 $ 1.08 $ .84
Fully Diluted $ 1.41 $ 1.05 $ .84
PRIMARY SHARES:
Weighted average shares
outstanding 33,510 33,398 33,231
Common stock equivalents -
stock options 399 228 236
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TOTAL 33,909 33,626 33,467
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FULLY DILUTED SHARES:
Weighted average share
outstanding 33,510 33,379 33,231
Common stock equivalents -
stock options 690 256 352
Shares issuable on conversion
of subordinated debentures 2,451 2,029
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TOTAL 36,651 35,664 33,583
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