Exhibit 11
TRW Inc. and Subsidiaries
COMPUTATION OF EARNINGS PER SHARE - UNAUDITED
(In Millions Except Per Share Amounts)
Three Months Ended March 31
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1996 1995
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PRIMARY
Net earnings $ 117.0 $ 114.7
Less preference dividend requirements 0.1 0.2
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Net earnings applicable to common shares and
common share equivalents $ 116.9 $ 114.5
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Average common shares outstanding 65.6 64.9
Stock options and performance share rights,
based on the treasury stock method using
average market price 1.5 1.0
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Average common shares and common share
equivalents 67.1 65.9
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Primary earnings per share $ 1.74 $ 1.74
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FULLY DILUTED
Net earnings applicable to common shares and
common share equivalents $ 116.9 $ 114.5
Dividends assuming conversion of other
dilutive securities: (A)
Dilutive preference dividends 0.1 0.2
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Net earnings applicable to fully diluted shares $ 117.0 $ 114.7
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Average common shares outstanding 65.6 64.9
Common shares assuming conversion of
other dilutive securities: (A)
Dilutive preference shares 0.6 0.6
Stock options and performance share rights,
based on the treasury stock method using
closing market price if higher than
average market price 1.6 1.2
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Average fully diluted shares 67.8 66.7
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Fully diluted earnings per share $ 1.73 $ 1.72
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(A) Assuming the conversion of the Serial Preference Stock II - Series 1 and
Series 3.