Exhibit 11 GENERAL MILLS, INC. COMPUTATION OF EARNINGS PER SHARE Twenty-Six Weeks Ended November 28, November 29, 1993 1992 Net Earnings, in millions $ 306.5 $ 297.7 Computation of Shares: Weighted average number of shares outstanding, excluding shares held in treasury (a) 159,486,662* 163,711,307 Shares resulting from the assumed exercise of certain stock options (b) 2,602,331* 3,582,929* Shares potentially issuable under compensation plans 41,106* 42,717* Total common shares and common share equivalents 162,130,099 167,336,953 Earnings per Share $ 1.92 $ 1.82 Notes to Exhibit 11: (a) Beginning balance of common stock is adjusted for changes in amount outstanding, weighted by the elapsed portion of the period during which the shares were outstanding. (b) Common share equivalents are computed by the "treasury stock" method. Share amounts represent the dilutive effect of outstanding stock options which have an option price below the average market price of our stock for the period concerned. * Common share equivalents are not material. As a result, earnings per share have been computed using the weighted average number of shares outstanding of 159,486,662 and 163,711,307 for the first six months of fiscal 1994 and 1993, respectively.