Exhibit 11
MELVILLE CORPORATION AND SUBSIDIARY COMPANIES
COMPUTATION OF PER SHARE EARNINGS
($ and shares in thousands, except per share data)
Three Months Ended Three Months Ended
April 2, 1994 March 27, 1993
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PRIMARY LOSS PER COMMON SHARE:
Net loss ($ 2,505) ($ 21,686)
Less: Preferred dividends, net 4,237 3,937
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Net loss used to calculate
primary loss per share ($ 6,742) ($ 25,623)
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Weighted average number of shares
outstanding 105,351 104,754
Add: Weighted average number of shares which
could have been issued upon exercise
of outstanding options 91 454
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Weighted average number of shares used to
compute primary loss per share 105,442 105,208
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Primary loss per share ($0.06) ($0.24)
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FULLY DILUTED LOSS PER COMMON SHARE:
Net loss ($ 2,505) ($ 21,686)
Less: Preferred dividends 13 13
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Net loss used to calculate fully diluted
loss per share, before adjustments (2,518) (21,699)
Less: Adjustments resulting principally from the
assumed conversion of the Series One ESOP
Convertible Preference Stock, net of tax benefit 1,657 1,072
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Net loss used to calculate fully diluted
loss per share ($ 4,175) ($ 22,771)
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Weighted average number of shares used to
compute primary loss per share 105,351 104,754
Add: Weighted average shares of Series One
Convertible Preference Stock assuming
conversion 7,074 6,742
Add: Weighted average number of shares which
could have been issued upon exercise
of outstanding options 91 454
Add: Weighted average number of shares which
could have been issued upon conversion of
4 7/8% debentures 6 6
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Weighted average number of shares used to compute
fully diluted loss per share 112,522 111,956
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Fully diluted loss per share ($0.04) ($0.20)
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