EXHIBIT 11.1
UNISYS CORPORATION
STATEMENT OF COMPUTATION OF EARNINGS PER SHARE
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1998 AND 1997
(UNAUDITED)
(Millions, except share data)
1998 1997
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Basic Earnings Per Common Share
Net income $ 248.4 $ 112.1
Less dividends on preferred shares ( 79.9) ( 84.5)
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Net income available to common stockholders $ 168.5 $ 27.6
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Weighted average shares 250,909,816 173,120,399
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Basic earnings per share $ .67 $ .16
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Diluted Earnings Per Common Share
Net income available to common stockholders $ 168.5 $ 27.6
Plus impact of assumed conversions
Interest expense on 8 1/4% Convertible Notes
due 2006, net of tax 1.2
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Net income available to common
stockholders plus assumed conversions $ 169.7 $ 27.6
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Weighted average shares 250,909,816 173,120,399
Plus incremental shares from assumed
conversions
Employee stock plans 11,020,766 2,826,217
8 1/4% Convertible Notes due 2006 4,012,508
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Adjusted weighted average shares 265,943,090 175,946,616
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Diluted earnings per share $ .64 $ .16
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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 33,696,405
Series A preferred stock 47,449,470 47,454,016