EXHIBIT 11
W. R. GRACE & CO. AND SUBSIDIARIES
WEIGHTED AVERAGE NUMBER OF SHARES AND EARNINGS USED IN PER SHARE COMPUTATIONS
(Unaudited)
The weighted average number of shares of Common Stock outstanding were as
follows (in thousands):
3 Mos. Ended
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3/31/96 3/31/95
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Weighted average number of shares of Common
Stock outstanding................................................................. 97,888 94,137
Additional dilutive effect of outstanding options
(as determined by the application of the treasury
stock method)..................................................................... 2,166 2,018
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Weighted average number of shares of Common
Stock outstanding assuming full dilution.......................................... 100,054 96,155
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Income used in the computation of earnings per share were as follows (in
millions, except per share):
3 Mos. Ended
----------------------
3/31/96 3/31/95
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Net income.............................................................................. $63.6 $47.5
Dividends paid on preferred stocks...................................................... (.1) (.1)
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Income used in per share computation of earnings and in per
share computation of earnings assuming full dilution.............................. $63.5 $47.4
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Earnings per share...................................................................... $ .65 $ .50
Earnings per share assuming full dilution............................................... $ .63 $ .49