Bausch & Lomb Incorporated Exhibit 11 Statement Regarding Computation of Per Share Earnings (Share Amounts in Thousands Except Per Share Data) TWELVE MONTHS ENDED December 27, December 28, 1997 1996 _______________________________________________________________ Net earnings (in millions) (a) $ 49.4 $ 83.1 Actual outstanding Common and Class B shares at beginning of period 55,404 56,941 Sum of weighted average activity of: (1) Common and Class B shares issued for stock options, (2) repurchases of Common and Class B stock and (3) cancellation of outstanding stock options (21) (642) Weighted Basic Shares (b) 55,383 56,299 Effect of assumed exercise of Common stock equivalent 271 211 Weighted diluted Shares (c) 55,654 56,510 Basic earnings per share (a/b) 0.89 1.48 Diluted earnings per share (a/c) 0.89 1.47