<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           SIX MONTHS ENDED
                                                                                          JUNE 30,                    JUNE 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           SIX MONTHS ENDED
                                                                                          JUNE 30,                    JUNE 30,
                                                                                    ---------------------     ---------------------
                                                                                      2002         2001         2002         2001
                                                                                    --------     --------     --------     --------
<S>                                                                                 <C>          <C>          <C>          <C>
NET INCOME BEFORE EXTRAORDINARY ITEM


Net income before extraordinary item                                                $ 44,474     $ 31,475     $ 84,932     $ 53,921

Dividends paid on preferred stocks                                                      (130)        (130)        (260)        (260)
                                                                                    --------     --------     --------     --------

                                                                                    --------     --------     --------     --------
Income used in per share computation of net income before extraordinary item        $ 44,344     $ 31,345     $ 84,672     $ 53,661
                                                                                    ========     ========     ========     ========


Basic and fully dilutive net income before extraordinary item per share             $   0.49     $   0.35     $   0.94     $   0.60
                                                                                    ========     ========     ========     ========
</TABLE>


<TABLE>
<CAPTION>
                                                                                    THREE MONTHS ENDED           SIX MONTHS ENDED
                                                                                          JUNE 30,                    JUNE 30,
                                                                                    ---------------------     ---------------------
                                                                                      2002         2001         2002         2001
                                                                                    --------     --------     --------     --------
<S>                                                                                 <C>          <C>          <C>          <C>

NET INCOME


Net income                                                                          $ 34,694     $ 31,475     $ 75,152     $ 53,921

Dividends paid on preferred stocks                                                      (130)        (130)        (260)        (260)
                                                                                    --------     --------     --------     --------

                                                                                    --------     --------     --------     --------
Income used in per share computation of net income                                  $ 34,564     $ 31,345     $ 74,892     $ 53,661
                                                                                    ========     ========     ========     ========

Basic and fully dilutive net income per share                                       $   0.38     $   0.35     $   0.83     $   0.60
                                                                                    ========     ========     ========     ========
</TABLE>