Exhibit 11.1
Motorola, Inc. and Consolidated Subsidiaries
Pro Forma Primary and Fully Diluted Earnings Per Common and
Common Equivalent Share
Giving Retroactive Effect to the March 15, 1994 Two-For-One Stock Split
(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 548.8 534.1
Common equivalent shares:
Stock options 12.9 7.5
Zero coupon notes due 2009 and 2013 20.9 24.0
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Common and common equivalent
shares-primary (in millions) 582.6 565.6
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Net earnings per share before
cumulative effect of change in
accounting principle $ 1.78 $ 1.05
Cumulative effect of change in
accounting principle per share --- (.22)
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Net earnings per share - primary $ 1.78 $ .83
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EARNINGS PER COMMON AND COMMON
EQUIVALENT SHARE - FULLY DILUTED:
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Weighted average common shares
outstanding 548.8 534.1
Common equivalent shares:
Stock options 14.0 9.0
Zero coupon notes due 2009 and 2013 20.9 24.0
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Common and common equivalent
shares-fully diluted (in millions) 583.7 567.1
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Net earnings per share before
cumulative effect of change in
accounting principle $ 1.78 $ 1.05
Cumulative effect of change in
accounting principle per share --- (.22)
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Net earnings per share - fully diluted $ 1.78 $ .83
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