RPM INTERNATIONAL INC. AND SUBSIDIARIES --------------------------------------- CONSOLIDATED STATEMENTS OF COMPUTATIONS OF EARNINGS --------------------------------------------------- PER COMMON SHARE AND COMMON SHARE EQUIVALENTS --------------------------------------------- Exhibit 11.1 ------------ (In thousands, except per share amounts) Year Ended May 31 2004 2003 2002 -------- -------- -------- Net Income - ---------- Net income applicable to common shares for basic and diluted earnings per share $141,886 $ 35,327 $101,554 ======== ======== ======== Shares Outstanding - ------------------ Weighted average shares for basic earnings per share 115,777 115,294 104,418 Net issuable common share equivalents 933 692 713 -------- -------- -------- Total shares for diluted earnings per share 116,710 115,986 105,131 ======== ======== ======== Basic Earnings Per Common Share $ 1.23 $ .31 $ .97 ======== ======== ======== Diluted Earnings Per Common Share $ 1.22 $ .30 $ .97 ======== ======== ========