EXHIBIT 11.2 UNISYS CORPORATION STATEMENT OF COMPUTATION OF EARNINGS PER SHARE FOR THE THREE MONTHS ENDED JUNE 30, 1997 AND 1996 (UNAUDITED) (Millions, except share data) 1997 1996 ----------- ----------- Primary Earnings Per Common Share Average Number of Outstanding Common Shares 175,121,679 172,702,498 Additional Shares Assuming Exercise of Stock Options 783,907 482,347 ----------- ----------- Average Number of Outstanding Common Shares and Common Share Equivalents 175,905,586 173,184,845 =========== =========== Net Income $ 41.9 $ 5.3 Dividends on Series A, B and C Preferred Stock ( 27.8) ( 30.2) ----------- ----------- Primary Earnings (Loss) on Common Shares $ 14.1 $( 24.9) =========== =========== Primary Earnings (Loss) Per Common Share $ .08 $( .14) =========== =========== Fully Diluted Earnings Per Common Share Average Number of Outstanding Common Shares and Common Share Equivalents 175,905,586 173,184,845 Additional Shares: Assuming Conversion of Series A Preferred Stock 47,454,036 47,454,135 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 43,490,909 Attributable to Stock Plans 1,100,412 198,612 ----------- ----------- Common Shares Outstanding Assuming Full Dilution 301,648,330 298,025,888 =========== =========== Primary Earnings (Loss) on Common Shares $ 14.1 $( 24.9) Exclude Dividends on Series A Preferred Stock 26.7 26.6 Interest Expense on 8 1/4% Convertible Notes, due 2000, Net of Applicable Tax 4.8 4.8 Interest Expense on 8 1/4% Convertible Notes, due 2006, Net of Applicable Tax 4.2 4.1 ----------- ----------- Fully Diluted Earnings on Common Shares $ 49.8 $ 10.6 =========== =========== Fully Diluted Earnings per Common Share $ .17 $ .04 =========== =========== Earnings (Loss) Per Common Share As Reported Primary $ .08 $( .14) =========== =========== Fully Diluted $ .08 $( .14) =========== =========== The computation for 1997 is based on the weighted average number of outstanding common shares and additional shares assuming the exercise of stock options. The computation for 1996 is based solely on the weighted average number of outstanding common shares. Neither period assumes conversion of the convertible notes or Series A preferred stock since such conversions would have been antidilutive.