1
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
------------------------
1999 1998 1997
-------- -------- --------
Net Income
- ----------
Net income applicable to common shares
for basic earnings per share $ 94,546 $ 87,837 $ 78,315
Add back interest net of tax on
convertible securities assumed
to be converted 1,005 5,638 5,266
-------- -------- --------
Net income applicable to common
shares for diluted earnings $ 95,551 $ 93,475 $ 83,581
======== ======== ========
Shares Outstanding
- ------------------
Weighted average shares for basic
earnings per share 108,731 98,527 97,285
Net issuable common share equivalents 567 944 609
Additional shares issuable assuming
conversion of convertible securities 2,078 12,192 12,208
-------- -------- --------
Total shares for diluted earnings
per share 111,376 111,663 110,102
======== ======== ========
Basic Earnings Per Common Share $.87 $.89 $.81
==== ==== ====
Diluted Earnings Per Common Share $.86 $.84 $.76
==== ==== ====