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EXHIBIT 11
MASCO CORPORATION AND CONSOLIDATED SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
PRIMARY AND FULLY DILUTED EARNINGS PER SHARE
FOR THE THREE MONTHS AND NINE MONTHS ENDED SEPTEMBER 30, 1997 AND 1996
(AMOUNTS IN THOUSANDS EXCEPT PER SHARE DATA)
THREE MONTHS ENDED NINE MONTHS ENDED
SEPTEMBER 30 SEPTEMBER 30
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1997 1996 1997 1996
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Shares for computation of primary
and fully diluted earnings
per share:
Weighted average number of
shares outstanding 164,100 160,500 162,200 160,500
Common stock equivalents:
Shares issuable assuming
conversion of debentures 4,200 4,200 4,200 4,200
Stock options 1,800 900 1,800 900
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Total shares for primary
and fully diluted earnings
per share computation 170,100 165,600 168,200 165,600
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Net income, adjusted to basis of
earnings per share:
Net income $101,800 $81,800 $276,900 $211,800
Add back debenture
interest, net 1,500 1,500 4,400 4,400
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$103,300 $83,300 $281,300 $216,200
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Primary and fully diluted
earnings per share $.61 $.50 $1.67 $1.31
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Earnings per share as reported $.62 $.51 $1.71 $1.32
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This calculation is submitted in accordance with Regulation S-K Item
601(b)(11), although not required by APB Opinion No. 15, inasmuch as dilution
for any period was less than three percent.