Exhibit 11.1 RPM, INC. AND SUBSIDIARIES -------------------------- CONSOLIDATED STATEMENTS OF COMPUTATIONS OF EARNINGS --------------------------------------------------- PER COMMON SHARE AND COMMON SHARE EQUIVALENTS --------------------------------------------- (In thousands except per share amounts) Year Ended May 31 -------------------------------- 2002 2001 2000 -------- -------- -------- Net Income - ---------- Net income applicable to Common Shares for basic and diluted earnings per share $101,554 $ 62,961 $ 40,992 ======== ======== ======== Shares Outstanding - ------------------ Weighted average shares for basic earnings per share 104,418 102,202 107,221 Net issuable Common Share equivalents 713 10 163 -------- -------- -------- Total shares for diluted earnings per share 105,131 102,212 107,384 ======== ======== ======== Basic and Diluted Earnings Per Common Share $ .97 $ .62 $ .38 ======== ======== ========