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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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1996 1995
Primary
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Weighted average shares 55,153 40,594
Dilutive effect of:
Stock options 172 65
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Weighted average number of shares and
equivalent shares outstanding 55,325 40,659
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Net income $35,533 $24,183
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Per Share:
Net income (A) $ 0.64 $ 0.59
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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
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Weighted average shares 55,153 40,594
Assumed conversion of debentures 8,680 6,675
Dilutive effect of:
Stock options 172 65
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Weighted average shares
and equivalent shares outstanding 64,005 47,334
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Net income $35,533 $24,183
Interest and debt amortization on
assumed conversion of debentures 6,060 4,472
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Adjusted net income for fully diluted calculation $41,593 $28,655
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Per Share:
Net income (B) $ 0.65 $ 0.61
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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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