EXHIBIT 11.1 MICRON TECHNOLOGY, INC. COMPUTATION OF PER SHARE EARNINGS (AMOUNTS IN MILLIONS EXCEPT FOR PER SHARE DATA) FISCAL YEAR ENDED ------------------------------------------------- AUGUST 29, 1996 AUGUST 31, 1995 SEPTEMBER 1, 1994 --------------- --------------- ----------------- PRIMARY Weighted average shares outstanding................ 207.8 205.1 202.4 Net effect of dilutive stock options.................... 7.2 8.8 6.5 ------ ------ ------ Total shares................ 215.0 213.9 208.9 ====== ====== ====== Net income.................. $593.5 $844.1 $400.5 ====== ====== ====== Primary earnings per share.. $ 2.76 $ 3.95 $ 1.92 ====== ====== ====== FULLY DILUTED Weighted average shares outstanding................ 207.8 205.1 202.4 Net effect of dilutive stock options.................... 7.2 11.1 8.0 ------ ------ ------ Total shares................ 215.0 216.2 210.4 ====== ====== ====== Net income.................. $593.5 $844.1 $400.5 ====== ====== ====== Fully diluted earnings per share...................... $ 2.76 $ 3.90 $ 1.90 ====== ====== ======