HEALTHTRUST, INC. - THE HOSPITAL COMPANY Exhibit 11 - STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE (Dollars in thousands, except per share data) Three Months Ended February 28 Six Months Ended February 28 1994 1993 1994 1993 Primary: Average shares outstanding 81,175,622 81,241,645 81,138,773 81,274,611 Net effect of dilutive warrants 2,731,645 2,171,052 2,675,458 2,004,328 Net effect of dilutive stock options 970,897 263,767 824,890 134,753 Total weighted average common shares 84,878,164 83,676,464 84,639,121 83,413,692 Net income $ 47,376 $ 37,935 $ 86,228 $ 71,257 Net income per share $ 0.56 $ 0.45 $ 1.02 $ 0.85 Fully Diluted: Average shares outstanding 81,175,622 81,241,645 81,138,773 81,274,611 Net effect of dilutive warrants 2,772,431 2,171,052 2,772,431 2,004,328 Net effect of dilutive stock options 1,061,482 263,767 1,020,829 134,753 Total weighted average common shares 85,009,535 83,676,464 84,932,033 83,413,692 Net income $ 47,376 $ 37,935 $ 86,228 $ 71,257 Net income per share $ 0.56 $ 0.45 $ 1.02 $ 0.85