EXHIBIT 11 LINENS 'N THINGS, INC. AND SUBSIDIARIES COMPUTATION OF NET INCOME (LOSS) PER COMMON SHARE (in thousands, except per share data) FISCAL YEAR ---------------------------------------------------- 1999 1998 1997 1996 1995 -------- -------- -------- -------- -------- BASIC - ----- Weighted average number of shares outstanding .. 39,339 38,895 38,578 38,536 38,536 ======== ======== ======== ======== ======== Net income (loss) before cumulative effect of change in accounting principle ............... $ 52,052 $ 38,062 $ 25,790 $ 15,039 $ (34) Cumulative effect of change in accounting principle .................................... -- -- -- -- 178 -------- -------- -------- -------- -------- Net income (loss) applicable to common shares .. $ 52,052 $ 38,062 $ 25,790 $ 15,039 $ (212) ======== ======== ======== ======== ======== Per share amounts Net income (loss) before cumulative effect of change in accounting principle ............. $ 1.32 $ 0.98 $ 0.67 $ 0.39 $ (0.00) Cumulative effect of change in accounting principle .................................. -- -- -- -- 0.01 -------- -------- -------- -------- -------- Net income (loss) per share .................... $ 1.32 $ 0.98 $ 0.67 $ 0.39 $ (0.01) ======== ======== ======== ======== ======== DILUTED - ------- Weighted average number of shares outstanding and diluted common share equivalents ........... 40,907 40,407 39,537 38,558 38,536 ======== ======== ======== ======== ======== Net income (loss) before cumulative effect of change in accounting principle ............... $ 52,052 $ 38,062 $ 25,790 $ 15,039 $ (34) Cumulative effect of change in accounting principle .................................... -- -- -- -- 178 -------- -------- -------- -------- -------- Net income (loss) applicable to common shares .. $ 52,052 $ 38,062 $ 25,790 $ 15,039 $ (212) ======== ======== ======== ======== ======== Per share amounts Net income (loss) before cumulative effect of change in accounting principle ............. $ 1.27 $ 0.94 $ 0.65 $ 0.39 $ (0.00) Cumulative effect of change in accounting principle .................................. -- -- -- -- 0.01 -------- -------- -------- -------- -------- Net income (loss) per share .................... $ 1.27 $ 0.94 $ 0.65 $ 0.39 $ (0.01) ======== ======== ======== ======== ========