EX-11.1 2 l13130aexv11w1.htm EX-11.1 COMPUTATION OF NET INCOME Exhibit 11.1
 

RPM INTERNATIONAL INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPUTATIONS OF EARNINGS
PER SHARE AND SHARE EQUIVALENTS
(Unaudited)

Exhibit 11.1

(In thousands, except per share amounts)

                                 
    Nine Months Ended     Three Months Ended  
    February 28,     February 29,     February 28,     February 29,  
    2005     2004     2005     2004  
Shares Outstanding
                                
For computation of basic earnings per share of common stock
                                
 
                                
Weighted average shares
     116,700       115,687       117,284       115,835  
 
                        
 
                                
Total shares for basic earnings per share
     116,700       115,687       117,284       115,835  
 
                                
For computation of diluted earnings per share of common stock
                                
 
                                
Net issuable common share equivalents
     1,472       906       1,868       1,516  
 
                                
Additional shares issuable assuming conversion of convertible securities (1)
     8,034       8,034               8,034  
 
                        
 
                                
Total shares for diluted earnings per share
     126,206       124,627       119,152       125,385  
 
                        
 
                                
Net Income
                                
Net income (loss) applicable to shares of common stock for basic earnings per share
   $ 58,826     $ 88,913     $ (4,772 )   $ 6,018  
 
                                
Add: Income effect of contingently issuable shares (1)
     2,380       2,315               772  
 
                        
 
                                
Net income (loss) applicable to shares of common stock for diluted earnings per share
   $ 61,206     $ 91,228     $ (4,772 )   $ 6,790  
 
                        
 
                                
Basic Earnings Per Share
   $ 0.50     $ 0.77     $ (0.04 )   $ 0.05  
 
                        
 
                                
Diluted Earnings Per Share
   $ 0.48     $ 0.73     $ (0.04 )   $ 0.05  
 
                        

(1) Conversion of the 8,034,355 shares related to convertible securities for the three-month period ended February 28, 2005 was not assumed, since the result would have been antidilutive.

The accompanying notes to consolidated financial statements are an integral part of these statements.