<PAGE>
                                                                      EXHIBIT 11


             FRESENIUS MEDICAL CARE HOLDINGS, INC. AND SUBSIDIARIES
        WEIGHTED AVERAGE NUMBER OF SHARES AND EARNINGS USED IN PER SHARE
                                   COMPUTATION
                        (DOLLARS AND SHARES IN THOUSANDS)

<TABLE>
<CAPTION>
                                                                  THREE MONTHS ENDED                   NINE MONTHS ENDED
                                                                     SEPTEMBER 30,                        SEPTEMBER 30,
                                                           -------------------------------       -------------------------------
                                                               2002              2001               2002               2001
                                                           -------------     -------------       ------------      -------------
<S>                                                           <C>               <C>                <C>                <C>
The weighted average number of shares of
  Common Stock were as follows........................            90,000            90,000             90,000             90,000
                                                           =============     =============       ============      =============
</TABLE>


Income used in the computation of earnings per share were as follows:

<TABLE>
<CAPTION>

                                                                  THREE MONTHS ENDED                    NINE MONTHS ENDED
                                                                    SEPTEMBER 30,                         SEPTEMBER 30,
                                                           -------------------------------       -------------------------------
CONSOLIDATED                                                   2002              2001               2002               2001
                                                           -------------     -------------       ------------      -------------
<S>                                                        <C>              <C>                       <C>         <C>
Net earnings..........................................     $       36,408   $       31,946            111,560     $       85,866

Dividends paid on preferred stocks....................              (130)             (130)              (390)              (390)
                                                           -------------     -------------       ------------      -------------

Income used in per share computation of earnings......     $      36,278    $       31,816            111,170     $       85,476
                                                           =============     =============       ============      =============

Basic and fully dilutive earnings per share...........     $        0.40    $         0.35               1.24     $         0.95
                                                           =============     =============       ============      =============
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