Exhibit (11)
OWENS-CORNING FIBERGLAS CORPORATION AND SUBSIDIARIES
COMPUTATION OF PER SHARE EARNINGS
FOR THE YEARS ENDED DECEMBER 31, 1993, 1992 AND 1991
Primary:
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1993 1992 1991
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(In millions of dollars, except share data)
Net income (loss) $ 131 $ 73 $ (742)
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Weighted average number of shares
outstanding (thousands) 42,734 41,973 40,924
Weighted average common
equivalent shares (thousands):
Deferred awards 264 617 -
Stock options using weighted
average market price 595 423 -
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Primary weighted average number of
common shares outstanding and
common equivalent shares (thousands) 43,593 43,013 40,924
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Primary per share amount (1) $ 3.00 $ 1.70 $ (18.13)
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Fully Diluted:
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Net income (loss) $ 139 $ 82 $ (742)
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Weighted average number of shares
outstanding (thousands) 42,734 41,973 40,924
Weighted average common
equivalent shares (thousands):
Deferred awards 265 617 -
Stock options using the higher of
average market price or market
price at end of period 613 456 -
Shares from assumed conversion
of debt 5,798 5,798 -
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Fully diluted weighted average
number of common shares
outstanding and common
equivalent shares (thousands) 49,410 48,844 40,924
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Fully diluted per share amount (1) $ 2.81 $ 1.67 $ (18.13)
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(1) For the year ended December 31, 1991, the deferred awards, stock options
and shares from assumed conversion of debt are anti-dilutive in the
calculation of fully diluted earnings per share, so they are excluded
from the calculation.