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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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1997 1996 1997 1996
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PRIMARY
Weighted average shares 61,575 60,665 61,509 57,909
Dilutive effect of:
Stock options 181 141 196 159
Weighted average number of shares and
equivalent shares outstanding 61,756 60,806 61,705 58,068
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Net income $41,947 $40,243 $83,000 $75,776
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Net income per share (A) $.68 $.66 $1.35 $1.30
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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 shares 61,575 60,665 61,509 57,909
Dilutive effect of:
Stock options 231 156 231 159
Assumed conversion of debentures 8,075 8,589 8,103 8,634
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Fully diluted weighted average shares
and equivalent shares outstanding 69,881 69,410 69,843 66,702
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Net income $41,947 $40,243 $83,000 $75,776
Interest and debt amortization on assumed
conversion of debentures 5,693 5,985 11,326 12,044
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Adjusted net income for fully diluted calculation $47,640 $46,228 $94,326 $87,820
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Net income per share (B) $.68 $.67 $1.35 $1.32
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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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