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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 6 Mos. Ended
6/30/96 - 6/30/95 6/30/96 - 6/30/95
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Weighted average number of shares of Common
Stock outstanding . . . . . . . . . . . . . . . . . 96,634 95,116 97,259 94,629
Additional dilutive effect of outstanding options
(as determined by the application of the treasury
stock method) . . . . . . . . . . . . . . . . . . . 1,878 2,486 2,022 2,486
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Weighted average number of shares of Common
Stock outstanding assuming full dilution . . . . . 98,512 97,602 99,281 97,115
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Income used in the computation of earnings per share were as follows (in
millions except per share):
3 Mos. Ended 6 Mos. Ended
6/30/96 - 6/30/95 6/30/96 - 6/30/95
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Net income . . . . . . . . . . . . . . . . . . . . $333.9 $78.7 $397.5 $126.2
Dividends paid on preferred stocks . . . . . . . . (.2) (.2) (.3) (.3)
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Income used in per share computation of
earnings and in per share computation of
earnings assuming full dilution . . . . . . . . . . $333.7 $78.5 $397.2 $125.9
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Earnings per share . . . . . . . . . . . . . . . . $ 3.45 $ .83 $ 4.09 $ 1.33
Earnings per share assuming full dilution . . . . . $ 3.39 $ .80 $ 4.00 $ 1.30