Esterline Technologies 10-K 2010 FY Annual report

Exhibit 11.1

ESTERLINE TECHNOLOGIES CORPORATION

(In thousands, except per share amounts)

	2010		2009		2008		2007		2006
Computation of Earnings Per Share – Basic
Income From Continuing Operations Attributable to Esterline, Net of Tax	$	130,039	$	105,568	$	111,258	$	85,914	$	51,064
Income From Discontinued Operations Attributable to Esterline, Net of Tax		11,881		14,230		9,275		6,370		4,551
Net Earnings Attributable to Esterline	$	141,920	$	119,798	$	120,533	$	92,284	$	55,615
Weighted Average Number of Shares Outstanding – Basic		29,973		29,717		29,507		25,824		25,413
Earnings Per Share Attributable to Esterline – Basic:
Continuing operations	$	4.34	$	3.55	$	3.77	$	3.33	$	2.01
Discontinued operations		.39		.48		.31		.24		.18
Earnings Per Share Attributable to Esterline – Basic	$	4.73	$	4.03	$	4.08	$	3.57	$	2.19
Computation of Earnings Per Share – Diluted
Income From Continuing Operations Attributable to Esterline, Net of Tax	$	130,039	$	105,568	$	111,258	$	85,914	$	51,064
Income From Discontinued Operations Attributable to Esterline, Net of Tax		11,881		14,230		9,275		6,370		4,551
Net Earnings Attributable to Esterline	$	141,920	$	119,798	$	120,533	$	92,284	$	55,615
Weighted Average Number of Shares Outstanding		29,973		29,717		29,507		25,824		25,413
Net Shares Assumed to be Issued for Stock Options		504		234		401		428		405
Weighted Average Number of Shares and Equivalent Shares Outstanding - Diluted		30,477		29,951		29,908		26,252		25,818
Earnings Per Share Attributable to Esterline – Diluted:
Continuing operations	$	4.27	$	3.52	$	3.72	$	3.27	$	1.98
Discontinued operations		.39		.48		.31		.25		.17
Earnings Per Share Attributable to Esterline – Diluted	$	4.66	$	4.00	$	4.03	$	3.52	$	2.15