Exhibit 11 E. I. DU PONT DE NEMOURS AND COMPANY CALCULATION OF EARNINGS PER SHARE (Dollars in millions, except per share) Years Ended December 31 ----------------------------------------------------------------------------------------------- 1995 ------------------------------ 1996 Primary Fully Diluted 1994 1993 1992 -------------- -------------- -------------- -------------- -------------- --------------- Net income (loss) less dividends on preferred stock ............ $3,626 $3,283 $3,283 $2,717 $545 $(3,937) Adjustment for interest, net of income tax, determined under "Modified Treasury Stock Method" ........................ -- 467 447 -- -- -- ----------- ----------- ----------- ----------- ----------- ----------- Earnings (loss) applicable to common stock ................... $3,626 $3,750 $3,730 $2,717 $545 $(3,937) =========== =========== =========== =========== =========== =========== Average number of common shares outstanding (excludes treasury stock and the shares held by DuPont Flexitrust) ............. 560,675,296 585,107,476 585,107,476 679,999,916 676,622,115 673,454,935 Adjustments required for common share equivalents: (1) shares awarded but undelivered under the Variable Compensation Plan, (2) shares held by the DuPont Flexitrust, and (3) shares assumed to be issued due to stock options and warrants, net of shares acquired (as determined under "Modified Treasury Stock Method" for 1995) ............ 9,923,630 73,678,138 73,955,886 4,542,903 3,785,582 4,575,929 ----------- ----------- ----------- ----------- ----------- ----------- Adjusted average number of common shares and share equivalents ... 570,598,926 658,785,614 659,063,362 684,542,819 680,407,697 678,030,864 =========== =========== =========== =========== =========== =========== Earnings (loss) per share and share equivalents .......... $6.35(a) $ 5.69(b) $ 5.66(b) $ 3.97(a) $.80(a) $ (5.81)(b) =========== =========== =========== =========== =========== =========== Earnings (loss) per share - as published ...................... $6.47 $ 5.61 $ 5.61 $ 4.00 $.81 $ (5.85) =========== =========== =========== =========== =========== =========== - -------------------- (a) Fully diluted. (b) Calculations are antidilutive.