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Exhibit 11
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MEDITRUST
STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS
(In thousands except per share amounts)
Quarter ended Nine months ended
September 30, September 30,
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1995 1994 1995 1994
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Primary
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Weighted average shares 49,589 34,744 46,492 34,130
Dilutive effect of:
Stock options - 87 120 99
Warrants - - - 27
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Weighted average number of shares and
equivalent shares outstanding 49,589 34,831 46,612 34,256
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Net income before extraordinary item $31,702 $19,817 $86,814 $56,530
Extraordinary item: Loss on prepayment of debt 33,454 - 33,454 -
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Net income (loss) $(1,752) $19,817 $53,360 $56,530
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Per Share:
Net income before extraordinary item $ 0.64 $ 0.57 $ 1.86 $ 1.65
Extraordinary item 0.68 - 0.72 -
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Net income (loss) (A) $ (0.04) $ 0.57 $ 1.14 $ 1.65
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<FN>
(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 shares 49,589 34,744 46,492 34,130
Assumed conversion of debentures 8,322 7,210 7,188 7,181
Dilutive effect of:
Stock options 205 87 205 99
Warrants _ _ _ 27
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Weighted average shares
and equivalent shares outstanding 58,116 42,041 53,885 41,437
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Net income before extraordinary item $31,702 $19,817 $86,814 $56,530
Interest and debt amortization on
assumed conversion of debentures 5,829 4,667 14,820 13,982
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Adjusted net income before extraordinary item 37,531 24,484 101,634 70,512
Extraordinary item: Loss on prepayment of debt 33,454 - 33,454 -
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Adjusted net income for fully diluted calculation $ 4,077 $24,484 $68,180 $70,512
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Per Share:
Net income before extraordinary item $ 0.65 $ 0.57 $ 1.89 $ 1.65
Extraordinary item 0.58 - 0.62 -
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Net income (B) $ 0.07 $ 0.57 $ 1.27 $ 1.65
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<FN>
(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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