EXHIBIT 11.1
Page 1 of 2
UNISYS CORPORATION
STATEMENT OF COMPUTATION OF EARNINGS PER SHARE
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1996 AND 1995
(UNAUDITED)
(Millions, except share data)
Primary Earnings Per Common Share 1996 1995
----------- -----------
Average Number of Outstanding Common Shares 172,369,855 171,184,699
Additional Shares Assuming
Exercise of Stock Options 430,426 816,414
----------- -----------
Average Number of Outstanding Common Shares and
Common Share Equivalents 172,800,281 172,001,113
=========== ===========
Income From Continuing Operations $ 6.1 $ 39.7
Dividends on Series A, B and C Preferred Stock (90.6) ( 90.1)
Primary Earnings (Loss) on Common Shares Before ------ ------
Discontinued Operations (84.5) ( 50.4)
Income From Discontinued Operations 12.5
------ ------
Primary Earnings (Loss) on Common Shares $(84.5) $(37.9)
====== ======
Primary Earnings (Loss) Per Common Share
Continuing Operations $(.49) $(.29)
Discontinued Operations .07
------ ------
Total $(.49) $(.22)
====== ======
Fully Diluted Earnings Per Common Share
Average Number of Outstanding Common
Shares and Common Share Equivalents 172,800,281 172,001,113
Additional Shares:
Assuming Conversion of Series A Preferred Stock 47,454,218 47,454,678
Assuming Conversion of 8 1/4%
Convertible Notes due 2000 33,697,387 33,697,387
Assuming Conversion of 8 1/4% Convertible
Notes due 2006 32,817,316
Attributable to Stock Plans 189,269 34,992
----------- -----------
Common Shares Outstanding Assuming Full Dilution 286,958,471 253,188,170
=========== ===========
Primary Earnings (Loss) on Common Shares Before
Discontinued Operations $(84.5) $(50.4)
Exclude Dividends on Series A Preferred Stock 79.9 79.9
Interest Expense on 8 1/4% Convertible Notes,
due 2000, Net of Applicable Tax 14.4 13.3
Interest Expense on 8 1/4% Convertible Notes,
due 2006, Net of Applicable Tax 9.4
------ ------
Fully Diluted Earnings on Common Shares Before
Discontinued Operations 19.2 42.8
Income From Discontinued Operations 12.5
------ ------
Fully Diluted Earnings on Common Shares $19.2 $55.3
====== ======
Fully Diluted Earnings per Common Share
Continuing Operations $ .07 $ .17
Discontinued Operations .05
------ ------
Total $ .07 $ .22
====== ======
EXHIBIT 11.1
Page 2 of 2
UNISYS CORPORATION
STATEMENT OF COMPUTATION OF EARNINGS PER SHARE
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1996 AND 1995
(UNAUDITED)
(Millions, except share data)
1996 1995
----------- -----------
Earnings (Loss) Per Common Share As Reported
Primary
Continuing Operations $(.49) $(.29)
Discontinued Operations .07
------ ------
Total $(.49) $(.22)
====== ======
Fully Diluted
Continuing Operations $(.49) $(.29)
Discontinued Operations .07
------ ------
Total $(.49) $(.22)
====== ======
The computation for 1996 and 1995 is based on the weighted average
number of outstanding common shares. Neither period includes common
stock equivalents or assumes conversion of the convertible notes or
Series A preferred stock since such conversions would have been
antidilutive.
EXHIBIT 11.2
UNISYS CORPORATION
STATEMENT OF COMPUTATION OF EARNINGS PER SHARE
FOR THE THREE MONTHS ENDED SEPTEMBER 30, 1996 AND 1995
(UNAUDITED)
(Millions, except share data)
Primary Earnings Per Common Share 1996 1995
----------- -----------
Average Number of Outstanding Common Shares 172,970,411 171,387,269
Additional Shares Assuming Exercise of
Stock Options 366,692 644,899
----------- -----------
Average Number of Outstanding Common Shares and
Common Share Equivalents 173,337,103 172,032,168
=========== ===========
Income (Loss) From Continuing Operations $ 14.2 $(32.2)
Dividends on Series A, B and C Preferred Stock (30.2) (30.2)
------ ------
Primary Earnings (Loss) on Common Shares $(16.0) $(62.4)
====== ======
Primary Earnings (Loss) Per Common Share $( .09) $ (.36)
====== ======
Fully Diluted Earnings Per Common Share
Average Number of Outstanding Common
Shares and Common Share Equivalents 173,337,103 172,032,168
Additional Shares:
Assuming Conversion of Series A Preferred Stock 47,454,135 47,454,638
Assuming Conversion of 8 1/4% Convertible
Notes due 2000 33,697,387 33,697,387
Assuming Conversion of 8 1/4% Convertible
Notes due 2006 43,490,909
Attributable to Stock Plans 334,225
----------- -----------
Common Shares Outstanding Assuming Full Dilution 298,313,759 253,184,193
=========== ===========
Primary Earnings (Loss) on Common Shares $(16.0) $(62.4)
Exclude Dividends on Series A Preferred Stock 26.6 26.6
Interest Expense on 8 1/4% Convertible Notes,
due 2000, Net of Applicable Tax 4.8 4.4
Interest Expense on 8 1/4% Convertible Notes,
due 2006, Net of Applicable Tax 4.2
------ ------
Fully Diluted Earnings (Loss) on Common Shares $19.6 $(31.4)
====== ======
Fully Diluted Earnings (Loss) per Common Share $ .07 $ (.12)
====== ======
Earnings (Loss) Per Common Share As Reported
Primary $(.09) $ (.36)
====== ======
Fully Diluted $(.09) $ (.36)
====== ======
The computation for 1996 and 1995 is based on the weighted average
number of outstanding common shares. Neither period includes common
stock equivalents or assumes conversion of the convertible notes or
Series A preferred stock since such conversions would have been
antidilutive.