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<PAGE> 1
RPM, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF COMPUTATIONS OF EARNINGS
PER COMMON SHARE AND COMMON SHARE EQUIVALENTS
EXHIBIT 11.1
(In thousands except per share amounts)
<TABLE>
<CAPTION>
Year Ended May 31
--------------------------------------------------------
2000 1999 1998
--------------- --------------- ---------------
<S> <C> <C> <C>
NET INCOME
Net income applicable to common shares for basic
earnings per share $ 40,992 $ 94,546 $ 87,837
Add back interest net of tax on convertible
securities assumed to be converted 1,005 5,638
--------------- --------------- ---------------
Net income applicable to common shares for diluted
earnings $ 40,992 $ 95,551 $ 93,475
=============== =============== ===============
SHARES OUTSTANDING
Weighted average shares for basic earnings per share 107,221 108,731 98,527
Net issuable common share equivalents 163 567 944
Additional shares issuable assuming conversion of
convertible securities 2,078 12,192
--------------- --------------- ---------------
Total shares for diluted earnings per share 107,384 111,376 111,663
=============== =============== ===============
Basic Earnings Per Common Share $.38 $.87 $.89
==== ==== ====
Diluted Earnings Per Common Share $.38 $.86 $.84
==== ==== ====
</TABLE>
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