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

Three Months Ended Nine Months Ended September 30, September 30, - - ------------------------ ------------------------ 1993 1992 1993 1992 ----------- - - ----------- ----------- ----------- Income before cumulative effect of accounting changes $316 $324 $977 $947 Cumulative effect of accounting changes - - - 3 ------ - - ------ ------ ------ Net income (millions) $316 $324 $977 $944 ====== ====== ====== ====== _________________________________________________________________ _____ ____________________________ Primary earnings per share: Income before cumulative effect of accounting changes $1.47 $1.48 $4.49 $4.33 Cumulative effect of accounting changes - - - (0.02) ------ - - ------ ------ ------ Earnings per share $1.47 $1.48 $4.49 $4.31 ====== ====== ====== ====== Weighted average number of common shares outstanding 216,460,582 219,079,532 217,817,985 219,094,954 =========== =========== =========== =========== _________________________________________________________________ _____ ____________________________ Fully diluted earnings per share: (1) Income before cumulative effect of accounting changes $1.45 $1.46 $4.44 $4.27 Cumulative effect of accounting changes - - - (0.01) ------ - - ------ ------ ------ Earnings per share $1.45 $1.46 $4.44 $4.26 ====== ====== ====== ====== Weighted average number of common shares outstanding 216,460,582 219,079,532 217,817,985 219,094,954 Common equivalent shares 2,089,183 2,450,787 2,133,097 2,450,787 ----------- - - ----------- ----------- ----------- Average number of common shares outstanding and equivalents 218,549,765 221,530,319 219,951,082 221,545,741 =========== =========== =========== =========== _________________________________________________________________ __________________________________ 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%.