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                                                                    EXHIBIT 11.0

                STORAGE TECHNOLOGY CORPORATION AND SUBSIDIARIES
                    COMPUTATION OF EARNINGS PER COMMON SHARE
                    (In thousands, except per share amounts)

<TABLE>
<CAPTION>
                                                      March 28,        March 29,  
                                                         1997            1996     
                                                      ---------        ---------  
<S>                                                      <C>           <C>    
PRIMARY (a)                                                                         
Earnings                                                                            
  Income before extraordinary item                     $39,589           $25,589    
  Extraordinary gain on sale of lease assets,                                       
    net of income taxes of $8,200                                          9,535    
                                                       -------           -------    
  Net income                                           $39,589           $35,124    
                                                       =======           =======    
                                                                                    
Shares                                                                              
  Weighted average common shares outstanding            61,222            53,314    
  Dilutive effect of outstanding options                                            
    and warrants (as determined under                                               
    the treasury stock method)                             985               226    
                                                       -------           -------    
  Weighted average common shares                                                    
    and equivalents                                     62,207            53,540    
                                                       =======           =======    
                                                                                    
Earnings per common share:                                                          
  Income before extraordinary item                     $  0.64           $  0.48    
  Extraordinary gain, net                                                   0.18    
                                                       -------           -------    
                                                       $  0.64           $  0.66    
                                                       =======           =======    
                                                                                    
                                                                                    
FULLY DILUTED                                                                       
Earnings                                                                            
  Income before extraordinary item                     $39,589           $25,589    
  Adjustment for interest and amortization                                          
    of debt issue costs on 7% Convertible                                           
    Debentures, net of estimated tax effects                               2,604    
  Adjustment for interest and amortization                                          
    of debt issue costs on 8% Convertible                                           
    Debentures, net of estimated tax effects               255             2,465    
                                                       -------           -------    
  Income before extraordinary item                      39,844            30,658    
  Extraordinary gain on sale of lease assets,                                       
    net of income taxes of $8,200                                          9,535    
                                                       -------           -------    
  Net income, as adjusted                              $39,844           $40,193    
                                                       =======           =======    
                                                                                    
Shares                                                                              
  Weighted average common shares outstanding            61,222            53,314    
  Dilutive effect of outstanding options                                            
    and warrants (as determined under                                               
    the treasury stock method)                             993               226    
  Adjustment for shares issuable upon assumed                                       
    conversion of 7% Convertible Debentures                                7,284    
  Adjustment for shares issuable upon assumed                                       
    conversion of 8% Convertible Debentures                578             4,132    
                                                       -------           -------    
  Weighted average common shares                                                    
    and equivalents, as adjusted                        62,793            64,956    
                                                       =======           =======    
                                                                                    
Earnings per common share:                                                          
  Income before extraordinary item                     $  0.63           $  0.47    
  Extraordinary gain, net                                                   0.15    
                                                       -------           -------    
                                                       $  0.63           $  0.62(a) 
                                                       =======           =======    
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(a) These figures agree with the related amounts in the Consolidated Statement
    of Operations.