TOLL BROTHERS, INC. & SUBSIDIARIES EXHIBIT 11
STATEMENT: COMPUTATION OF EARNINGS PER SHARE
Nine Months Nine Months
ended July 31 ended July 31
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1996 1995
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Net income per income statement $31,659,000 $32,946,000
Addback: Interest on convertible
debentures, net of income taxes 1,164,000 1,190,000
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Net income (Fully-diluted) $32,823,000 $34,136,000
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Earnings per share:
Primary $ 0.92 $ 0.98
Fully-diluted $ 0.89 $ 0.94
PRIMARY SHARES:
Weighted average shares outstanding 33,852,173 33,475,849
Common stock equivalents - stock options 644,004 293,449
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TOTAL 34,496,177 33,769,298
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FULLY-DILUTED SHARES:
Weighted average shares outstanding 33,852,173 33,475,996
Common stock equivalents - stock options 653,898 575,238
Shares issuable on conversion of
subordinated debentures 2,404,382 2,452,917
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TOTAL 36,910,453 36,504,151
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Three Months Three Months
ended July 31 ended July 31
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1996 1995
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Net income per income statement $15,413,000 $15,242,000
Addback: Interest on convertible
debentures, net of income taxes 379,000 395,000
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Net income (Fully diluted) $15,792,000 $15,637,000
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Earnings per share:
Primary $ 0.45 $ 0.45
Fully Diluted $ 0.43 $ 0.43
PRIMARY SHARES:
Weighted average shares outstanding 33,908,619 33,531,627
Common stock equivalents - stock options 526,355 542,359
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TOTAL 34,434,974 34,073,986
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FULLY-DILUTED SHARES:
Weighted average shares outstanding 33,908,619 33,531,627
Common stock equivalents - stock options 526,290 627,824
Shares issuable on conversion of
subordinated debentures 2,344,782 2,445,931
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TOTAL 36,779,691 36,605,382
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