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                                   EXHIBIT 11
                    MAPCO INC. AND CONSOLIDATED SUBSIDIARIES
                STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS
                        (Dollars and Shares in Millions
                           except per share amounts)



<TABLE>
<CAPTION>
                                                      Three Months
                                                     Ended March 31,
                                                    ----------------
                                                     1997    1996(d)
                                                    ------   ------
<S>                                                 <C>      <C>   
PRIMARY EARNINGS PER COMMON SHARE
Computation for Consolidated Statements of Income
  Net income (a)                                    $ 72.7   $ 55.2
                                                    ======   ======

  Weighted average common shares outstanding          55.2     58.1
  Common stock equivalents (stock options)              --       --
                                                    ------   ------
  Weighted average common shares outstanding (a)      55.2     58.1
                                                    ======   ======
  Primary earnings (loss) per common share (a)(c)   $ 1.32   $  .95
                                                    ======   ======

Additional Primary Computation
  Net income (loss) (a)                             $ 72.7   $ 55.2
                                                    ======   ======

  Weighted average common shares outstanding (a)      55.2     58.1
  Dilutive effect of outstanding options                .8       .2
                                                    ------   ------
  Weighted average common shares outstanding,
    as adjusted                                       56.0     58.3
                                                    ======   ======
  Primary earnings (loss) per common share, as
    adjusted (b)                                    $ 1.30   $  .95
                                                    ======   ======


FULLY DILUTED EARNINGS PER COMMON SHARE
Additional Fully Diluted Computation
  Net income (loss) (a)                             $ 72.7   $ 55.2
                                                    ======   ======

  Weighted average common shares outstanding (a)      55.2     58.1
  Dilutive effect of outstanding options                .8       .2
                                                    ------   ------
  Weighted average common shares outstanding,
    as adjusted                                       56.0     58.3
                                                    ======   ======
  Fully diluted earnings (loss) per common share,
    as adjusted (b)                                 $ 1.30   $  .95
                                                    ======   ======
</TABLE>





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                                   EXHIBIT 11
                    MAPCO INC. AND CONSOLIDATED SUBSIDIARIES
                STATEMENT RE: COMPUTATION OF PER SHARE EARNINGS



(a)         These figures agree with the related amounts in the consolidated
            statements of income.

(b)         This calculation is submitted in accordance with the Securities
            Exchange Act of 1934 Release No. 9083, although not required by
            footnote 2 to paragraph 14 of APB Opinion No. 15 because it
            results in dilution of less than 3%.

(c)         In 1997 and 1996, stock options are not included in the earnings
            per share computation included in MAPCO's consolidated statements
            of income because the dilutive effect is less than 3%.

(d)         On September 10, 1996, the Board of Directors authorized a
            two-for-one stock split effected in the form of a stock dividend
            from shares held as treasury stock, which was distributed on
            September 30, 1996, to shareholders of record on September 16,
            1996. All references in this Exhibit 11 to number of shares and per
            share amounts of the Company's common stock in 1996 have been
            restated to reflect the increased number of shares outstanding.