EXHIBIT 11 TYSON FOODS, INC. COMPUTATION OF EARNINGS PER SHARE (In thousands except per share data) Quarter Ended __________________________ July 1, July 2, 1995 1994 __________________________ Primary: Average common shares outstanding during the period 144,720 147,683 Net effect of dilutive stock options based on the treasury stock method using average market price 342 832 _______ _______ Total common and common equivalent shares outstanding 145,062 148,515 Less antidilutive shares 832 _______ _______ Adjusted shares 145,062 147,683 ======= ======= Net income (loss) $57,710 $(148,401) ======= ========= Earnings (loss) per share $0.40 $(1.00) ===== ====== Fully Diluted: Average common shares outstanding during the period 144,720 147,683 Net effect of dilutive stock options based on the treasury stock method using the quarter- end market price, if higher than average market price 342 1,004 _______ _______ Total common and common equivalent shares outstanding 145,062 148,687 Less antidilutive shares 1,004 _______ _______ Adjusted shares 145,062 147,683 ======= ======= Net income (loss) $57,710 $(148,401) ======= ========= Earnings (loss) per share $0.40 $(1.00) ===== ====== 185 EXHIBIT 11 TYSON FOODS, INC. COMPUTATION OF EARNINGS PER SHARE (In thousands except per share data) Nine Months Ended __________________________ July 1, July 2, 1995 1994 __________________________ Primary: Average common shares outstanding during the period 144,373 147,594 Net effect of dilutive stock options based on the treasury stock method using average market price 343 798 _______ _______ Total common and common equivalent shares outstanding 144,716 148,392 Less antidilutive shares 798 _______ _______ Adjusted shares 144,716 147,594 ======= ======= Net income (loss) $160,388 $(60,901) ======== ======== Earnings (loss) per share $1.11 $(0.41) ===== ====== Fully Diluted: Average common shares outstanding during the period 144,373 147,594 Net effect of dilutive stock options based on the treasury stock method using the quarter- end market price, if higher than average market price 343 964 _______ _______ Total common and common equivalent shares outstanding 144,716 148,558 Less antidilutive shares 964 _______ _______ Adjusted shares 144,716 147,594 ======= ======= Net income (loss) $160,388 $(60,901) ======== ======== Earnings (loss) per share $1.11 $(0.41) ===== ====== 186