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Exhibit 11.1
IRIDIUM WORLD COMMUNICATIONS LTD.
COMPUTATION OF LOSS PER CLASS A COMMON SHARES
(In Thousands Except Share Data)
TWELVE MONTHS ENDED DECEMBER 31,
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1997 1998
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NET LOSS APPLICABLE TO CLASS A COMMON SHARES:
Net loss 18,834 107,639
Incremental equity loss pick-up upon assumed exercise of
options, warrants and conversion of Class B Common Shares 1,531 13,615
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Net loss applicable to Class A Common shares $ 20,365 $ 121,254
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AVERAGE NUMBER OF CLASS A SHARES:
Average number of Class A Common shares outstanding 6,739,726 12,083,261
Diluted adjustments (2):
Assumed exercise of options, warrants
and conversion of Class B Common Shares 733,972 1,699,663
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Average number of Class A Common shares assumed to be
outstanding, assuming dilution 7,473,698 13,782,924
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NET LOSS PER CLASS A COMMON SHARE:
Basic (1) $ 2.79 $ 8.91
Diluted (2) $ 2.72 $ 8.80
(1) The assumed exercise of options and warrants in periods of net loss are
anti-dilutive and are not included in the computation and presentation of
loss per Class A Common share.
(2) The assumed exercise of options and warrants are anti-dilutive but are
included in the calculation of diluted loss per Class A Common share in
accordance with Regulation S-K, Item 601 (a) (11).
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