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<PAGE> 1
EXHIBIT 11
KMART CORPORATION
INFORMATION ON COMPUTATION OF EARNINGS PER SHARE
<TABLE>
<CAPTION>
($ Millions, except per share data) 13 Weeks Ended 26 Weeks Ended
----------------------- ------------------------
July 26, July 28, July 26, July 28,
2000 1999 2000 1999
----------- ---------- ---------- ----------
<S> <C> <C> <C> <C>
I. Basic earnings per common share:
Net income (loss) from continuing operations $ (448) $ 138 $ (426) $ 194
Add: Discount on redemption of preferred securities, net - - 9 -
(a) Net income (loss) from continuing operations available ------- -------- -------- --------
to common shareholders (448) 138 (417) 194
(b) Discontinued operations, net of income taxes - (230) - (230)
------- -------- -------- --------
(c) Net loss available to common shareholders $ (448) $ (92) $ (417) $ (36)
======= ======== ======== ========
(d) Basic weighted average common shares outstanding 481.3 495.2 481.8 494.6
======= ======== ======== ========
Basic earnings (loss) per common share:
Net income (loss) from continuing operations available
to common shareholders (a)/(d) $ (0.93) $ 0.28 $ (0.87) $ 0.39
Discontinued operations (b)/(d) - (0.47) - (0.47)
------- -------- -------- --------
Net loss available to common shareholders (c)/(d) $ (0.93) $ (0.19) $ (0.87) $ (0.08)
======= ======== ======== ========
II. Diluted earnings per common share:
Net income (loss) from continuing operations available
to common shareholders $ (448) $ 138 $ (417) $ 194
Add: Dividends on outstanding trust convertible preferred securities, net 12 12 23 25
(e) Adjusted net income (loss) from continuing operations available ------- -------- -------- --------
to common shareholders (436) 150 (394) 219
(f) Discontinued operations, net of income taxes - (230) - (230)
------- -------- -------- --------
(g) Adjusted net loss available to common shareholders $ (436) $ (80) $ (394) $ (11)
======= ======== ======== ========
Basic weighted average common shares outstanding 481.3 495.2 481.8 494.6
Weighted average of outstanding trust convertible preferred securities 60.3 66.7 60.3 66.7
Weighted average of redeemed trust convertible preferred securities - - 1.5 -
Dilutive effect of stock options - 5.1 0.2 5.7
Dilutive effect of written put options 0.2 - 0.6 -
------- -------- -------- --------
(h) Diluted weighted average common shares outstanding 541.8 567.0 544.4 567.0
======= ======== ======== ========
Diluted earnings (loss) per common share:
Adjusted net income (loss) from continuing operations available
to common shareholders (e)/(h) $ (0.80) $ 0.26 $ (0.72) $ 0.39
Discontinued operations (f)/(h) - (0.41) - (0.41)
------- -------- -------- --------
Adjusted net loss available to common shareholders (g)/(h) $ (0.80) $ (0.15) $ (0.72) $ (0.02)
======= ======== ======== ========
(1) (1) (1)
</TABLE>
(1) This calculation is submitted in accordance with Regulation S-K item
601(b)(11) although it is contrary to paragraph 13 of SFAS 128
because it produces an anti-dilutive result.
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