To solve the given expression, we need to carefully follow the order of operations, which is often remembered by the acronym PEMDAS (Parentheses, Exponents, Multiplication and Division (from left to right), Addition and Subtraction (from left to right)).

The given expression is:
\[ 4^6 \times 9^5 + 6^9 \times 120 / 8^4 \times 3^{12} - 6^{11} \]

Let's break it down step by step.

### Step 1: Calculate the Exponents
First, we calculate the exponents:
\[ 4^6 = 4096 \]
\[ 9^5 = 59049 \]
\[ 6^9 = 10077696 \]
\[ 8^4 = 4096 \]
\[ 3^{12} = 531441 \]
\[ 6^{11} = 362797056 \]

### Step 2: Substitute the Exponent Values Back into the Expression
Now substitute these values back into the expression:
\[ 4096 \times 59049 + 10077696 \times 120 / 4096 \times 531441 - 362797056 \]

### Step 3: Perform Multiplications and Divisions from Left to Right
Next, perform the multiplications and divisions from left to right:
\[ 4096 \times 59049 = 2415919104 \]
\[ 10077696 \times 120 = 1209323520 \]
\[ 1209323520 / 4096 = 295680 \]
\[ 295680 \times 531441 = 157073448960 \]

### Step 4: Perform the Addition and Subtraction from Left to Right
Finally, perform the addition and subtraction from left to right:
\[ 2415919104 + 157073448960 - 362797056 \]

First, add:
\[ 2415919104 + 157073448960 = 159489368064 \]

Then, subtract:
\[ 159489368064 - 362797056 = 159126571008 \]

So, the value of the given expression is:
\[ 159126571008 \]