EXHIBIT 11.1
UNISYS CORPORATION
STATEMENT OF COMPUTATION OF EARNINGS PER SHARE
FOR THE SIX MONTHS ENDED JUNE 30, 1998 AND 1997
(UNAUDITED)
(Millions, except share data)
1998 1997
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Basic Earnings Per Common Share
Net income $ 152.8 $ 61.2
Less dividends on preferred shares ( 53.3) ( 57.9)
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Net income available to common stockholders $ 99.5 $ 3.3
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Weighted average shares 249,703,734 173,114,612
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Basic earnings per share $ .40 $ .02
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Diluted Earnings Per Common Share
Net income available to common stockholders $ 99.5 $ 3.3
Plus impact of assumed conversions
Interest expense on 8 1/4% Convertible Notes
due 2006, net of tax .8
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Net income available to common
stockholders plus assumed conversions $ 100.3 $ 3.3
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Weighted average shares 249,703,734 173,114,612
Plus incremental shares from assumed
conversions
Employee stock plans 10,761,749 1,609,251
8 1/4% Convertible Notes due 2006 4,031,138
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Adjusted weighted average shares 264,496,621 174,723,863
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Diluted earnings per share $ .38 $ .02
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The average shares listed below were not
included in the computation of diluted
earnings per share because to do so would
have been antidilutive for the periods
presented.
8 1/4% convertible notes due 2006 43,490,909
8 1/4% convertible notes due 2000 33,697,387
Series A preferred stock 47,450,133 47,454,085