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Exhibit 11
MEDITRUST
STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS
(000 omitted except for per share amounts)
Quarter ended Six months ended
June 30, June 30,
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1996 1995 1996 1995
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Primary
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Weighted average shares 60,665 49,194 57,909 44,917
Dilutive effect of:
Stock options 141 203 159 145
Weighted average number of shares and
equivalent shares outstanding 60,806 49,397 58,068 45,062
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Net income $40,243 $30,929 $75,776 $55,112
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Net income per share (A) $ .66 $ .63 $ 1.30 $ 1.22
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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
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Weighted average shares 60,665 49,194 57,909 44,917
Dilutive effect of:
Stock options 156 224 159 145
Assumed conversion of debentures 8,589 6,542 8,634 6,609
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Fully diluted weighted average shares
and equivalent shares outstanding 69,410 55,960 66,702 51,671
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Net income $40,243 $30,929 $75,776 $55,112
Interest and debt amortization on assumed
conversion of debentures 5,985 4,824 12,044 9,296
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Adjusted net income for fully diluted
calculation $46,228 $35,753 $87,820 $64,408
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Net income per share (B) $ .67 $ .64 $ 1.32 $ 1.25
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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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