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 9 Mos. Ended
9/30/96 - 9/30/95 9/30/96 - 9/30/95
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Weighted average number of shares of Common
Stock outstanding.................................. 91,092 96,708 95,188 95,330
Additional dilutive effect of outstanding options
(as determined by the application of the treasury
stock method)...................................... 2,826 2,392 2,826 2,392
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Weighted average number of shares of Common
Stock outstanding assuming full dilution........... 93,918 99,100 98,014 97,722
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Income used in the computation of earnings per share were as follows (in
millions except per share):
3 Mos. Ended 9 Mos. Ended
9/30/96 - 9/30/95 9/30/96 - 9/30/95
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Net income................................... $2,519.9 $ 21.7 $2,917.4 $ 147.9
Dividends paid on preferred stocks........... (.1) (.1) (.4) (.4)
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Income used in per share computation of
earnings and in per share computation of
earnings assuming full dilution........... $2,519.8 $ 21.6 $2,917.0 $ 147.5
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Earnings per share........................... $ 27.66 $ .22 $ 30.64 $ 1.55
Earnings per share assuming full dilution.... $ 26.83 $ .22 $ 29.76 $ 1.51