EX-11 2 0002.txt Exhibit (11) ----------- OWENS CORNING AND SUBSIDIARIES COMPUTATION OF PER SHARE EARNINGS Quarter Ended Nine Months Ended September 30, September 30, -------------- ------------- 2000 1999 2000 1999 ---- ---- ---- ---- (In millions of dollars, except share data) Basic: ----- Net income (loss) $ 14 $ 89 ($ 363) $ 209 ============ ========= ========== ========== Basic weighted average number of common shares outstanding (thousands) 55,008 54,292 54,759 54,111 Basic per share amount $ .25 $ 1.64 ($ 6.64) $ 3.87 ============ ========= ========== ========== Diluted: ------- Net income $ 14 $ 91 ($ 363) $ 215 ============ ========= ========== ========== Weighted average number of common shares outstanding (thousands) 55,008 54,292 54,759 54,111 Weighted average common equivalent shares (thousands): Deferred awards 26 22 - 21 Stock options using the average market price during the period 431 642 - 768 Shares from assumed conversion of preferred securities - 4,566 - 4,566 ------------ --------- ---------- ---------- Diluted weighted average number of common shares outstanding and common equivalent shares (thousands) 55,465 59,522 54,759 59,466 ============ ========= ========== ========== Diluted per share amount $ .25 $ 1.53 ($ 6.64) $ 3.62 ============ ========= ========== ==========