EXHIBIT 11
HEALTHSOUTH CORPORATION AND SUBSIDIARIES
COMPUTATION OF INCOME PER SHARE (UNAUDITED)
(IN THOUSANDS, EXCEPT FOR PER SHARE DATA)
THREE MONTHS ENDED
MARCH 31,
1997 1996
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PRIMARY:
Weighted average common shares outstanding 327,727 315,443
Net effect of dilutive stock options 15,045 20,708
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Total Common and Common Equivalent Shares 342,772 336,151
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Net income $ 64,580 $ 39,681
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Net income per common and common equivalent share $ 0.19 $ 0.12
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FULLY DILUTED:
Weighted average common shares outstanding 327,727 315,443
Net effect of dilutive stock options 15,045 20,708
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342,772 336,151
Assumed conversion of 5% Convertible Subordinated
Debentures due 2001 12,226 12,226
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Total Common and Common Equivalent Shares,
Fully Diluted 354,998 348,377
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Net income $ 64,580 $ 39,681
Elimination of interest and amortization on 5%
Convertible Subordinated Debentures due 2001, less
the related effect on the provision for income taxes 960 951
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Net income, fully diluted $ 65,540 $ 40,632
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Net income per common and common equivalent share $ 0.18 $ 0.12
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