Esterline Technologies 10-K 2014 FY Annual report

Exhibit 11.1

ESTERLINE TECHNOLOGIES CORPORATION

(In thousands, except per share amounts)

	2014			2013			2012			2011			2010
Computation of Earnings Per Share - Basic
Net Earnings from Continuing    Operations Attributable to    Esterline, Net of Tax	$	166,007		$	170,994		$	113,154		$	135,553		$	124,857
Loss from Discontinued Operations    Attributable to Esterline,    Net of Tax		(63,589	)		(6,260	)		(619	)		(2,513	)		17,063
Net Earnings Attributable to    Esterline	$	102,418		$	164,734		$	112,535		$	133,040		$	141,920
Weighted Average Number of    Shares Outstanding		31,840			31,173			30,749			30,509			29,973
Earnings (Loss) Per Share Attributable to Esterline - Basic:
Continuing Operations	$	5.22		$	5.48		$	3.68		$	4.44		$	4.16
Discontinued Operations		(2.00	)		(0.20	)		(0.02	)		(0.08	)		0.57
Earnings (Loss) Per Share    Attributable to Esterline - Basic	$	3.22		$	5.28		$	3.66		$	4.36		$	4.73
Computation of Earnings Per Share - Diluted
Net Earnings from Continuing    Operations Attributable to    Esterline, Net of Tax	$	166,007		$	170,994		$	113,154		$	135,553		$	124,857
Loss from Discontinued Operations    Attributable to Esterline,    Net of Tax		(63,589	)		(6,260	)		(619	)		(2,513	)		17,063
Net Earnings Attributable to Esterline	$	102,418		$	164,734		$	112,535		$	133,040		$	141,920
Weighted Average Number of    Shares Outstanding		31,840			31,173			30,749			30,509			29,973
Net Shares Assumed to be Issued    for Stock Options and RSUs		608			565			533			645			504
Weighted Average Number of    Shares and Equivalent Shares    Outstanding - Diluted		32,448			31,738			31,282			31,154			30,477
Earnings (Loss) Per Share Attributable to Esterline - Diluted:
Continuing Operations	$	5.12		$	5.39		$	3.62		$	4.35		$	4.10
Discontinued Operations		(1.96	)		(0.20	)		(0.02	)		(0.08	)		0.56
Earnings (Loss) Per Share    Attributable to Esterline - Diluted	$	3.16		$	5.19		$	3.60		$	4.27		$	4.66