Exhibit 11.1 LSI LOGIC CORPORATION CALCULATION OF EARNINGS PER SHARE (In thousands, except per share amounts) (Unaudited) 				Three Months Ended Nine Months Ended 			 September 30, September 30, 1997 1996 1997 1996 				 Primary Earnings Per Share Net income $ 44,318 $27,743 $128,524 $116,523 Average common and common equivalent shares: Average common shares outstanding 141,826 128,524 137,873 129,176 Dilutive options 2,606 1,700 3,010 2,347 144,432 130,224 140,883 131,523 Earnings per common and common equivalent share $0.31 $0.21 $0.91 $0.89 Fully Diluted Earnings Per Share Net income $ 44,318 $ 27,743 $128,524 $116,523 Interest expense on convertible subordinated debt, net of tax effect - 1,542 1,279 4,625 Adjusted net income $ 44,318 $29,285 $129,803 $121,148 Average common and common equivalent shares on a fully diluted basis: Average common shares outstanding 141,826 128,524 141,526 129,176 Convertible subordinated debt - 11,735 - 11,735 Dilutive options 2,680 1,841 3,017 2,348 144,506 142,100 144,543 143,259 Fully diluted earnings per common and common equivalent share $0.31 $0.21 $0.90 $0.85