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RPM, INC. AND SUBSIDIARIES
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CONSOLIDATED STATEMENTS OF COMPUTATIONS OF EARNINGS
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PER COMMON SHARE AND COMMON SHARE EQUIVALENTS Exhibit 11.1
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(In thousands except per share amounts)
Year Ended May 31
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1995 1994 1993
NET INCOME ---- ---- ----
Net income applicable to common shares
for primary earnings per share $61,099 $52,640 $39,498
Add back interest net of tax on
convertible securities assumed
to be converted 4,731 4,850 5,024
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Net income applicable to common shares
for fully-diluted earnings per share $65,830 $57,490 $44,522
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SHARES OUTSTANDING
For computation of primary earnings per
common share
Weighted average shares 56,921 56,379 52,925
Net issuable common share equivalents 322 338 342
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Total shares for primary earnings
per share 57,243 56,717 53,267
For computation of fully-diluted earnings
per common share
Additional shares of issuable common
share equivalents assuming conver-
sion of convertible securities 7,813 8,149 8,885
Additional common share equivalents
ending market value higher than
average market value 126 10 62
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Total shares for fully-diluted
earnings per share 65,182 64,876 62,214
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EARNINGS PER COMMON SHARE AND COMMON
SHARE EQUIVALENTS $1.07 $.93 $.74
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EARNINGS PER COMMON SHARE ASSUMING FULL
DILUTION $1.01 $.89 $.72
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