UNISYS CORPORATION
STATEMENT OF COMPUTATION OF EARNINGS PER SHARE
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 1999 AND 1998
(UNAUDITED)
(Millions, except share data)
1999 1998
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Earnings per share computation - basic
Income before extraordinary item $ 378.4 $ 240.7
Less dividends on preferred shares ( 36.7) ( 79.9)
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Income available to common stockholders
before extraordinary item 341.7 160.8
Extraordinary item ( 12.1)
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Net income available to common stockholders $ 329.6 $ 160.8
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Weighted average shares 279,677,558 252,458,000
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Earnings per share - basic
Income before extraordinary item $ 1.22 $ .64
Extraordinary item (.04)
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Net income $ 1.18 $ .64
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Earnings per share computation - diluted
Income available to common stockholders
before extraordinary item $ 341.7 $ 160.8
Plus impact of assumed conversions
Interest expense on 8 1/4% Convertible Notes
due 2006, net of tax .3 1.2
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Income available to common stockholders
before extraordinary item 342.0 162.0
Extraordinary item ( 12.1)
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Net income available to common stockholders $ 329.9 $ 162.0
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Weighted average shares 279,677,558 252,458,000
Plus incremental shares from assumed
conversions
Employee stock plans 10,796,201 11,020,766
8 1/4% Convertible Notes due 2006 1,090,473 4,012,508
Preferred stock 1,169,000 1,348,726
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Adjusted weighted average shares 292,733,232 268,840,000
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Earnings per share - diluted
Income before extraordinary item $ 1.17 $ .60
Extraordinary item (.04)
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Net income $ 1.13 $ .60
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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.
Series A preferred stock 25,862,243 47,449,470