EXHIBIT 11 Linens 'n Things, Inc. and Subsidiaries Computation of Net Income (Loss) Per Common Share (in thousands except per share data) 1997 1996 1995 1994 1993 ---- ---- ---- ---- ---- BASIC Weighted-average number of shares outstanding......... 19,289 19,268 19,268 19,268 19,268 ======== ======== ========= ======== ======== Net income (loss) before cumulative effect of change in accounting principle................... $ 25,790 $ 15,039 $ (34) $ 17,198 $ 11,719 Cumulative effect of change in accounting principle.......................................... -- -- 178 -- -- -------- -------- --------- -------- -------- Net income (loss) applicable to common shares......... $ 25,790 $ 15,039 $ (212) $ 17,198 $ 11,719 ======== ======== ========= ======== ======== Per-share amounts Net income (loss) before cumulative effect of change in accounting principle.............. $ 1.34 $ 0.78 $ (0.00) $ 0.89 $ 0.61 Cumulative effect of change in accounting principle...................................... -- -- 0.01 -- -- -------- -------- --------- -------- -------- Net income (loss) per share..................... $ 1.34 $ 0.78 $ (0.01) $ 0.89 $ 0.61 ======== ======== ========= ======== ======== DILUTED Weighted-average number of shares outstanding and diluted common share equivalents............... 19,769 19,279 19,268 19,268 19,268 ======== ======== ========= ======== ======== Net income (loss) before cumulative effect of change in accounting principle.................. $ 25,790 $ 15,039 $ (34) $ 17,198 $ 11,719 Cumulative effect of change in accounting principle.......................................... -- -- 178 -- -- -------- -------- --------- -------- -------- Net income (loss) applicable to common shares......... $ 25,790 $ 15,039 $ (212) $ 17,198 $ 11,719 ======== ======== ========= ======== ======== Per-share amounts Net income (loss) before cumulative effect of change in accounting principle.............. $ 1.30 $ 0.78 $ (0.00) $ 0.89 $ 0.61 Cumulative effect of change in accounting principle...................................... -- -- 0.01 -- -- -------- -------- --------- -------- -------- Net income (loss) per share..................... $ 1.30 $ 0.78 $ (0.01) $ 0.89 $ 0.61 ======== ======== ========= ======== ========