Exhibit 11 MASCO CORPORATION AND CONSOLIDATED SUBSIDIARIES COMPUTATION OF EARNINGS PER SHARE Primary and Fully Diluted Earnings Per Share For the Three Months and Nine Months Ended September 30, 1996 and 1995 (Amounts in thousands except per share data) Three Months Ended Nine Months Ended September 30 September 30 1996 1995 1996 1995 Shares for computation of primary and fully diluted earnings per share: Weighted average number of shares outstanding 160,500 159,300 160,500 159,300 Common stock equivalents: Shares issuable assuming conversion of debentures 4,200 4,200 4,200 4,200 Stock options 900 700 900 700 Total shares for primary and fully diluted earnings per share computation 165,600 164,200 165,600 164,200 Income from continuing operations $81,800 $62,070 $211,800 $189,400 Add back of debenture interest, net 1,500 1,500 4,400 4,400 Adjusted earnings from continuing operations 83,300 63,570 216,200 193,800 Income from operations of discontinued segment --- 5,030 --- 15,500 Earnings attributable to common stock $83,300 $68,600 $216,200 $209,300 Primary and fully diluted earnings per share: Continuing operations $.50 $.39 $1.31 $1.18 Discontinued operations -- .03 -- .09 Primary and fully diluted earnings per share $.50 $.42 $1.31 $1.27 Earnings per share as reported $.51 $.42 $1.32 $1.29 This calculation is submitted in accordance with Regulation S-K Item 601(b)(11), although not required by APB Opinion No. 15, inasmuch as dilution for any period was less than 3 percent.