Exhibit (11)
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OWENS CORNING AND SUBSIDIARIES
COMPUTATION OF PER SHARE EARNINGS
Quarter Ended Six Months Ended
June 30, June 30,
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2001 2000 2001 2000
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(In millions of dollars, except share data)
Basic:
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Net income (loss) $ 29 $ (425) $ 19 $ (377)
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Basic weighted average number of
common shares outstanding (thousands) 55,076 54,793 55,058 54,652
Basic per share amount $ .53 $ (7.76) $ .34 $ (6.90)
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Diluted:
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Net income $ 29 $ (425) $ 19 $ (377)
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Weighted average number of common shares
outstanding (thousands) 55,076 54,793 55,058 54,652
Weighted average common equivalent
shares (thousands):
Deferred awards 303 - 337 -
Stock options using the average market
price during the period - - - -
Shares from assumed conversion of
preferred securities 4,566 - 4,566 -
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Diluted weighted average number of common
shares outstanding and common equivalent
shares (thousands) 59,945 54,793 59,961 54,652
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Diluted per share amount $ .49 $ (7.76) $ .32 $ (6.90)
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