Exhibit 11
W. R. GRACE & CO. AND SUBSIDIARIES
WEIGHTED AVERAGE NUMBER OF SHARES AND EARNINGS USED IN PER SHARE COMPUTATIONS
(Unaudited)
The weighted average number of shares of Common Stock outstanding were as
follows (in thousands):
3 Mos. Ended 9 Mos. Ended
9/30/94 - 9/30/93 9/30/94 - 9/30/93
------------------- --------------------
Weighted average number of shares of Common
Stock outstanding. . . . . . . . . . . . . . . . . . . 93,995 92,295 93,893 90,829
Conversion of convertible debt obligations . . . . . . -- 65 -- 65
Additional dilutive effect of outstanding options
(as determined by the application of the treasury
stock method). . . . . . . . . . . . . . . . . . . . . 660 513 756 544
------ ------ ------ ------
Weighted average number of shares of Common
Stock outstanding assuming full dilution . . . . . . . 94,655 92,873 94,649 91,438
------ ------ ------ ------
------ ------ ------ ------
Income/(loss) used in the computation of earnings per share were as follows
(in millions, except per share):
3 Mos. Ended 9 Mos. Ended
9/30/94 - 9/30/93 9/30/94 - 9/30/93
------------------ ----------------------
Net income/(loss). . . . . . . . . . . . . . . . . . . $76.0 $(236.4) $(20.1) $(259.2)
Dividends paid on preferred stocks . . . . . . . . . . (.2) (.2) (.4) (.4)
----- -------- ------- --------
Income/(loss) used in per share computation of
earnings . . . . . . . . . . . . . . . . . . . . . . . 75.8 (236.6) (20.5) (259.6)
Interest, net of tax, on convertible debt
obligations. . . . . . . . . . . . . . . . . . . . . . -- -- -- --
----- -------- ------- --------
Income/(loss) used in per share computation of
earnings assuming full dilution. . . . . . . . . . . . $75.8 $(236.6) $(20.5) $(259.6)
----- -------- ------- --------
----- -------- ------- --------
Income/(loss) per share. . . . . . . . . . . . . . . . $ .81 $ (2.56) $ (.22) $ (2.86)
Income/(loss) per share assuming full dilution . . . . $ .80 $ (2.55) $ (.22) $ (2.84)