Exhibit 11.1 MICRON TECHNOLOGY, INC. Computation of Per Share Earnings (Amounts in millions except for per share amounts) August 31, September 1, September 2, Fiscal year ended 1995 1994 1993 - ----------------------------------------------------------------------------- PRIMARY Weighted average shares outstanding 205.1 202.4 196.4 Net effect of dilutive stock options 8.8 6.5 3.9 -------- -------- -------- Total shares 213.9 208.9 200.3 ======== ======== ======== Net income $ 844.1 $ 400.5 $ 104.1 ======== ======== ======== Primary earnings per share $ 3.95 $ 1.92 $ 0.52 ======== ======== ======== FULLY DILUTED Weighted average shares outstanding 205.1 202.4 196.4 Net effect of dilutive stock options 11.1 8.0 6.2 -------- -------- -------- Total shares 216.2 210.4 202.6 ======== ======== ======== Net income $ 844.1 $ 400.5 $ 104.1 ======== ======== ======== Fully diluted earnings per share $ 3.90 $ 1.90 $ 0.51 ======== ======== ========