Exhibit (11)
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OWENS CORNING AND SUBSIDIARIES
COMPUTATION OF PER SHARE EARNINGS
Quarter Ended Nine Months Ended
September 30, September 30,
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2001 2000 2001 2000
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(In millions of dollars, except share data)
Basic:
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Net income (loss) $ 27 $ 14 $ 46 ($ 363)
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Basic weighted average number of
common shares outstanding (thousands) 55,079 55,008 55,064 54,759
Basic per share amount $ .50 $ .25 $ .84 ($ 6.64)
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Diluted:
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Net income $ 27 $ 14 $ 46 ($ 363)
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Weighted average number of common shares
outstanding (thousands) 55,079 55,008 55,064 54,759
Weighted average common equivalent
shares (thousands):
Deferred awards 26 26 26 -
Stock options using the average market
price during the period 264 431 297 -
Shares from assumed conversion of
preferred securities 4,566 - 4,566 -
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Diluted weighted average number of common
shares outstanding and common equivalent
shares (thousands) 59,935 55,465 59,953 54,759
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Diluted per share amount $ .46 $ .25 $ .77 ($ 6.64)
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