Exhibit 11
Meditrust Corporation
Statement Regarding Computation of Earnings Per Share
(In thousands, except per Share amounts)
Year ended December 31,
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Basic: 1997 1996 1995
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Weighted average number of shares
outstanding 76,274 71,445 57,151
========= ========= =========
Net income before extraordinary item $163,012 $157,976 119,972
Extraordinary item: Loss on prepayment of debt 33,454
--------- --------- ---------
Net income $163,012 $157,976 86,518
========= ========= =========
Per Share amounts:
Net income per share (A) $2.14 $2.21 $2.10
Extraordinary item: Loss on prepayment of debt 0.59
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Net income $2.14 $2.21 $1.51
========= ========= =========
(A) This calculation is submitted in accordance with Regulation S-K item
601 (b) (11)
Diluted:
Weighted average number of shares used in Basic
calculation 76,274 71,445 57,151
Dilutive effect of:
Stock options 733 306 272
Assumed conversion of convertible debentures (C) - - -
--------- --------- ---------
Diluted weighted average shares and equivalent
shares outstanding 77,007 71,751 57,423
========= ========= =========
Net income before extraordinary item $163,012 $157,976 $119,972
Interest and debt amortization on assumed
conversion of debentures - - -
--------- --------- ---------
Adjusted net income before extraordinary item 163,012 157,976 119,972
Extraordinary item: Loss on prepayment of debt 33,454
--------- --------- ---------
Net income $163,012 $157,976 $ 86,518
========= ========= =========
Per Share amounts:
Net income per share (B) $2.12 $2.20 $2.09
Extraordinary item: Loss on prepayment of debt 0.58
--------- --------- ---------
Net income $2.12 $2.20 $1.51
========= ========= =========
(B) This calculation is submitted in accordance with Regulation S-K item
601(b) (11)
(C) Convertible debentures are not included due to their antidilutive effect.
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