EXHIBIT 11 PAGE 1 OF 2 MARRIOTT INTERNATIONAL, INC. COMPUTATION OF EARNINGS PER SHARE ($ in millions, except per share amounts) Twelve weeks ended -------------------------- March 28, March 22, 1997 1996 --------- --------- Computation of Primary Earnings Per Share - ----------------------------------------- Net income................................. $ 77 $ 63 ========= ========= Shares - Weighted average number of shares outstanding............................... 126.2 126.6 Assumed issuance of shares granted under employee stock option plan, less shares assumed purchased at average market price...................... 4.1 4.2 Assumed distribution of shares granted under deferred stock incentive plan, less shares assumed purchased at average market price...................... 3.0 3.6 --------- --------- 133.3 134.4 ========= ========= Primary Earnings Per Share $ .58 $ .47 ========= ========= EXHIBIT 11 PAGE 2 OF 2 MARRIOTT INTERNATIONAL, INC. COMPUTATION OF EARNINGS PER SHARE (CONTINUED) ($ in millions, except per share amounts) Twelve weeks ended ---------------------------- March 28, March 22, 1997 1996 --------- --------- Computation of Fully Diluted Earnings - ------------------------------------- Per Share --------- Earnings - Net income............................. $ 77 $ 63 After-tax interest expense on convertible subordinated debt........ 2 - ------ ------- Net income for fully diluted earnings per share.............................. $ 79 $ 63 ====== ======= Shares - Weighted average number of shares outstanding............................ 126.2 126.6 Assumed issuance of shares granted under employee stock option plan, less shares assumed purchased at greater of average or ending market price.................................. 4.1 4.6 Assumed distribution of shares granted under deferred stock incentive plan, less shares assumed purchased at greater of average or ending market price.................................. 3.0 3.6 Assumed issuance of common shares upon conversion of convertible subordinated debt................................... 4.8 - ------ ------- 138.1 134.8 ====== ======= Fully Diluted Earnings Per Share........ $ .57 $ .47 ====== =======