Exhibit 11
Motorola, Inc. and Consolidated Subsidiaries
Primary and Fully Diluted Earnings Per Common and Common Equivalent Share
(In millions, except per share amounts)
For the Years Ended
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Dec. 31, Dec. 31,
1993 1992
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Net Income $ 1,022 $ 576
Add:
Interest on Zero coupon notes due
2009 and 2013, net of tax and
effect of executive incentive and
employee profit sharing plans 15 18
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Adjusted net income before cumulative
effect of change in accounting
principle 1,037 594
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Cumulative effect of a change in
accounting principle, net of tax --- (123)
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Adjusted net income
$ 1,037 $ 471
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EARNINGS PER COMMON AND COMMON
EQUIVALENT SHARE - PRIMARY:
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Weighted average common shares
outstanding 274.4 267.0
Common equivalent shares:
Stock options 6.4 3.8
Zero coupon notes due 2009 and 2013 10.5 12.0
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Common and common equivalent
shares-primary (in millions) 291.3 282.8
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Net earnings per share before
cumulative effect of change in
accounting principle $ 3.56 $ 2.10
Cumulative effect of change in
accounting principle per share --- (.43)
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Net earnings per share - primary $ 3.56 $ 1.67
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EARNINGS PER COMMON AND COMMON
EQUIVALENT SHARE - FULLY DILUTED:
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Weighted average common shares
outstanding 274.4 267.0
Common equivalent shares:
Stock options 7.0 4.6
Zero coupon notes due 2009 and 2013 10.5 12.0
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Common and common equivalent
shares-fully diluted (in millions) 291.9 283.6
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Net earnings per share before
cumulative effect of change in
accounting principle $ 3.55 $ 2.09
Cumulative effect of change in
accounting principle per share --- (.43)
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Net earnings per share - fully diluted $ 3.55 $ 1.66
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