SHAW INDUSTRIES, INC. EXHIBIT 11 COMPUTATION OF PER SHARE EARNINGS FOR THE YEARS ENDED DECEMBER 30, 1995, DECEMBER 31, 1994 and JANUARY 1, 1994 (In Thousands, Except Share Data) 1995 1994 1993 PRIMARY: Weighted average common shares outstanding 135,872 141,432 142,946 Additional shares assuming exercise of stock options 506 1,051 1,977 Average common shares outstanding, as adjusted 136,378 142,483 144,923 Income before extraordinary item and accounting change $64,381 $130,389 $117,636 Extraordinary item, net of tax benefit - (3,363) - Cumulative effect of accounting change, net of tax benefit (12,077) - - Net income $52,304 $127,026 $117,636 Earnings per Common Share: Income before extraordinary item and accounting change $0.47 $0.92 $0.81 Extraordinary item, net of tax benefit - (0.02) - Cumulative effect of accounting change, net of tax benefit (0.09) - - Net income $0.38 $0.89 $0.81 FULLY DILUTED: Weighted average common shares outstanding 135,872 141,432 142,946 Additional shares assuming exercise of stock options 506 1,058 2,371 Average common shares outstanding, as adjusted 136,378 142,490 145,317 Income before extraordinary item and accounting change $64,381 $130,389 $117,636 Extraordinary item, net of tax benefit - (3,363) - Cumulative effect of accounting change, net of tax benefit (12,077) - - Net income $52,304 $127,026 $117,636 Earnings per Common Share: Income before extraordinary item and accounting change $0.47 $0.92 $0.81 Extraordinary item, net of tax beneift - (0.02) - Cumulative effect of accounting change, net of tax benefit (0.09) - - Net income $0.38 $0.89 $0.81 Note: Adjusted for a two-for-one stock split effected in the form of a stock dividend in December 1993.