EXHIBIT 11 MINNESOTA MINING AND MANUFACTURING COMPANY AND SUBSIDIARIES EARNINGS PER SHARE OF COMMON STOCK

Three Months Ended Six Months Ended June 30 June 30 - - ------------------------ ------------------------ 1993 1992 1993 1992 (Millions) ----------- - - ----------- ----------- ----------- Income before cumulative effect of accounting changes $331 $317 $661 $623 Cumulative effect of accounting changes - - - 3 ------ - - ------ ------ ------ Net income $331 $317 $661 $620 ====== ====== ====== ====== _________________________________________________________________ _____ ____________________________ Primary earnings per share: Income before cumulative effect of accounting changes $1.51 $1.45 $3.02 $2.85 Cumulative effect of accounting changes - - - (0.02) ------ - - ------ ------ ------ Earnings per share $1.51 $1.45 $3.02 $2.83 ====== ====== ====== ====== Weighted average number of common shares outstanding 218,180,059 219,006,461 218,473,216 219,086,081 =========== =========== =========== =========== _________________________________________________________________ __________________________________ Fully diluted earnings per share: (1) Income before cumulative effect of accounting changes $1.50 $1.43 $2.99 $2.81 Cumulative effect of accounting changes - - - (0.01) ------ - - ------ ------ ------ Earnings per share $1.50 $1.43 $2.99 $2.80 ====== ====== ====== ====== Weighted average number of common shares outstanding 218,180,059 219,006,461 218,473,216 219,086,081 Common equivalent shares 2,480,054 2,188,369 2,214,535 2,188,369 ----------- - - ----------- ----------- ----------- Average number of common shares outstanding and equivalents 220,660,113 221,194,830 220,687,751 221,274,450 =========== =========== =========== =========== _________________________________________________________________ __________________________________ Primary earnings per share is computed by dividing net income by the weighted average number of common shares outstanding for each period. The calculation excludes the effect of common equivalent shares resulting from stock options using the treasury stock method as the effect would not be material. Fully diluted earnings per share is computed based on the weighted average number of common shares and common equivalent shares outstanding for each period. (1) This calculation is submitted in accordance with Regulation S-K item 601(b)(11) although not required by APB Opinion No. 15 because it results in dilution of less than 3%.