EXHIBIT 11.2
UNISYS CORPORATION
STATEMENT OF COMPUTATION OF EARNINGS PER SHARE
FOR THE THREE MONTHS ENDED SEPTEMBER 30, 1997 AND 1996
(UNAUDITED)
(Millions, except share data)
1997 1996
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Primary Earnings Per Common Share
Average Number of Outstanding Common Shares 175,342,299 172,970,411
Additional Shares Assuming Exercise of
Stock Options 3,657,454 366,692
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Average Number of Outstanding Common Shares
and Common Share Equivalents 178,999,753 173,337,103
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Net Income $ 50.9 $ 14.2
Dividends on Series A, B and C Preferred Stock ( 26.6) ( 30.2)
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Primary Earnings (Loss) on Common Shares $ 24.3 $( 16.0)
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Primary Earnings (Loss) Per Common Share $ .14 $( .09)
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Fully Diluted Earnings Per Common Share
Average Number of Outstanding Common
Shares and Common Share Equivalents 178,999,753 173,337,103
Additional Shares:
Assuming Conversion of Series A
Preferred Stock 47,453,877 47,454,135
Assuming Conversion of 8 1/4%
Convertible Notes due 2000 33,694,440 33,697,387
Assuming Conversion of 8 1/4%
Convertible Notes due 2006 43,490,909 43,490,909
Attributable to Stock Plans 2,798,606 334,225
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Common Shares Outstanding Assuming
Full Dilution 306,437,585 298,313,759
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Primary Earnings (Loss) on Common Shares $ 24.3 $( 16.0)
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 4.8
Interest Expense on 8 1/4% Convertible Notes,
due 2006, Net of Applicable Tax 4.1 4.2
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Fully Diluted Earnings on Common Shares $ 59.8 $ 19.6
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Fully Diluted Earnings per Common Share $ .20 $ .07
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Earnings (Loss) Per Common Share As Reported
Primary $ .14 $( .09)
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Fully Diluted $ .13 $( .09)
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The computation for 1997 is based on the weighted average number of
outstanding common shares and additional shares assuming the exercise of
stock options and conversion of 8 1/4% convertible notes due 2006. The
computation for 1996 is based solely on the weighted average number of
outstanding common shares. Conversion is not assumed for the 8 1/4%
convertible notes due 2000 in 1997, both convertible notes in 1996 and
Series A preferred stock in both periods since such conversions would
have been antidilutive.