HEALTHTRUST, INC. - THE HOSPITAL COMPANY Exhibit 11 - STATEMENT RE: COMPUTATION OF EARNINGS PER SHARE (Dollars in thousands, except per share data) Three Months Ended Nine Months Ended May 31, May 31, May 31, May 31, 1994 1993 1994 1993 Primary: Average shares outstanding 84,251,558 81,150,065 82,193,311 81,232,639 Net effect of dilutive warrants 2,033,718 2,092,737 2,608,476 2,034,541 Net effect of dilutive stock options 1,181,827 169,038 988,784 145,428 Total weighted average shares 87,467,103 83,411,840 85,790,571 83,412,608 Net income before extraordinary charge $ 45,648 $ 37,388 $ 131,876 $ 108,645 Extraordinary charge 12,710 12,710 Net income $ 45,648 $ 24,678 $ 131,876 $ 95,935 Net income per share before extraordinary charge $ 0.52 $ 0.45 $ 1.54 $ 1.30 Extraordinary charge 0.15 0.15 Net income per share $ 0.52 $ 0.30 $ 1.54 $ 1.15 Fully Diluted: Average shares outstanding 84,251,558 81,150,065 82,193,311 81,232,639 Net effect of dilutive warrants 2,033,718 2,261,345 2,623,893 2,228,821 Net effect of dilutive stock options 1,181,827 388,396 1,144,762 378,674 Total weighted average shares 87,467,103 83,799,806 85,961,966 83,840,134 Net income before extraordinary charge $ 45,648 $ 37,388 $ 131,876 $ 108,645 Extraordinary charge 12,710 12,710 Net income $ 45,648 $ 24,678 $ 131,876 $ 95,935 Net income per share before extraordinary charge $ 0.52 $ 0.44 $ 1.54 $ 1.29 Extraordinary charge 0.15 0.15 Net income per share $ 0.52 $ 0.29 $ 1.54 $ 1.14