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)

THREE MONTHS ENDED NINE MONTHS ENDED SEPTEMBER 30, SEPTEMBER 30, ------------------- ----------------- 2003 2002 2003 2002 ---- ---- ---- ---- The weighted average number of shares of Common Stock were as follows.......................................... 90,000 90,000 90,000 90,000 ====== ====== ====== ======

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

THREE MONTHS ENDED NINE MONTHS ENDED SEPTEMBER 30, SEPTEMBER 30, ------------------------ -------------------- CONSOLIDATED 2003 2002 2003 2002 ---- ---- ---- ---- Net earnings............................................................ $ 54,979 $ 36,408 154,033 $ 111,560 Dividends paid on preferred stocks...................................... (130) (130) (390) (390) -------- --------- ------- --------- -------- --------- ------- --------- Income used in per share computation of earnings........................ $ 54,849 $ 36,278 153,643 $ 111,170 ======== ========= ======= ========= Basic and fully dilutive earnings per share............................. $ 0.61 $ 0.40 1.71 $ 1.24 ======== ========= ======= =========