EXHIBIT 11
HEALTHSOUTH CORPORATION AND SUBSIDIARIES
COMPUTATION OF INCOME PER SHARE (UNAUDITED)
(IN THOUSANDS, EXCEPT FOR PER SHARE DATA)
THREE MONTHS ENDED
MARCH 31,
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2002 2001
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Numerator:
Net income $ 107,749 $ 75,311
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Numerator for basic earnings per share -- income available to
common stockholders 107,749 75,311
Effect of dilutive securities:
Elimination of interest and amortization on 3.25% Convertible
Subordinated Debentures due 2003, less the related
effect of the provision of income taxes 3,130 - (1)
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Numerator for diluted earnings per share -- income available to
common stockholders after assumed conversion $ 110,879 $ 75,311
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Denominator:
Denominator for basic earnings per share -- weighted-average
shares 391,863 388,143
Effect of dilutive securities:
Net effect of dilutive stock options 7,032 9,563
Restricted shares issued 475 750
Assumed conversion of 3.25% Convertible Subordinated
Debentures due 2003 15,502 - (1)
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Dilutive potential common shares 23,009 10,313
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Denominator of diluted earnings per share -- adjusted
weighted-average shares and assumed conversions 414,872 398,456
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Basic earnings per share $ 0.27 $ 0.19
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Diluted earnings per share $ 0.27 $ 0.19
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(1) The effect of these securities was antidilutive for the three months ended
March 31, 2001.
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