EX-11 3 0003.txt Exhibit (11) ------------ OWENS CORNING AND SUBSIDIARIES COMPUTATION OF PER SHARE EARNINGS Quarter Ended Six Months Ended June 30, June 30, 2000 1999 2000 1999 ---- ---- ---- ---- (In millions of dollars, except share data) Basic: ----- Net income (loss) $ (425) $ 76 $ (377) $ 120 ========= ========== ========= =========== Basic weighted average number of common shares outstanding (thousands) 54,793 54,116 54,652 54,011 Basic per share amount $ (7.76) $ 1.41 $ (6.90) $ 2.22 ========= ========== ========= =========== Diluted: ------- Net income $ (425) $ 78 $ (377) $ 124 ========= ========== ========= =========== Weighted average number of common shares outstanding (thousands) 54,793 54,116 54,652 54,011 Weighted average common equivalent shares (thousands): Deferred awards - 22 - 20 Stock options using the average market price during the period - 992 - 883 Shares from assumed conversion of preferred securities - 4,566 - 4,566 --------- ---------- --------- ----------- Diluted weighted average number of common shares outstanding and common equivalent shares (thousands) 54,793 59,696 54,652 59,480 ======== ========== ========= =========== Diluted per share amount $ (7.76) $ 1.31 $ (6.90) $ 2.08 ========== ========== ========= ===========