1
Exhibit 11.2
IRIDIUM LLC
(A DEVELOPMENT STAGE LIMITED LIABILITY COMPANY)
COMPUTATION OF LOSS PER CLASS 1 INTEREST
(IN THOUSANDS EXCEPT MEMBER INTEREST DATA)
TWELVE MONTHS ENDED
DECEMBER 31,
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1997 1998
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NET LOSS APPLICABLE TO CLASS 1 INTERESTS:
Net loss $ 293,553 $ 1,252,801
Preferred dividend requirement 5,703 6,109
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Net loss applicable to class 1 interests $ 299,256 $ 1,258,910
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AVERAGE NUMBER OF CLASS 1 INTERESTS:
Average number of Class 1 Interests outstanding 132,879,976 141,322,445
Fully diluted adjustments (2):
Subscribed but unissued Class 1 Interests - -
Assumed exercise of options and warrants 13,240,187 17,811,822
Assumed conversion of Series A Class 2 Interest 869,544 738,679
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Average number of Class 1 Interests assumed to be
outstanding, assuming full dilution 146,989,707 159,872,946
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NET LOSS PER CLASS 1 INTEREST:
Primary (1) $ 2.25 $ 8.91
Fully diluted (2) $ 2.04 $ 7.87
(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
primary loss per Class 1 Interest.
(2) The assumed exercise of options, warrants, and conversion of Series A
Class 2 Interests are anti-dilutive but are included in the calculation
of fully diluted loss per Class 1 Interest in accordance with Regulation
S-K, Item 601 (a) (11).