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Exhibit 11
MEDITRUST
STATEMENT REGARDING COMPUTATION OF PER
SHARE EARNINGS (000 omitted
except for per share amounts)
Quarter ended
March 31,
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1995 1994
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Primary
Weighted average shares 40,594 33,438
Dilutive effect of:
Stock options 65 103
Warrants 49
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Weighted average number of shares and
equivalent shares outstanding 40,659 33,590
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Net income $24,183 $17,705
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Net income per share (A) $.59 $0.53
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(A) This calculation is submitted in accordance with Regulation S-K item
601(b)(11) although not required by footnote 2 to paragraph 14 of
APB Opinion No. 15 because it results in dilution of less than 3%.
Fully Diluted
Weighted average number of shares used
in primary calculation 40,659 33,590
Assumed conversion of debentures 6,675 6,652
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Fully diluted weighted average shares
and equivalent shares outstanding 47,334 40,242
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Net income $24,183 $17,705
Interest and debt amortization on assumed
conversion of debentures 4,472 4,259
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Adjusted net income for fully diluted calculation $28,655 $21,964
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Net income per share (B) $.61 $0.55
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(B) This calculation is submitted in accordance with Regulation S-K item
601(b)(11) although it is contrary to paragraph 40 of APB Opinion
No. 15 because it produces anti-dilutive results.
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