Exhibit 11.2 ROHR, INC., AND SUBSIDIARIES CALCULATION OF FULLY DILUTED NET INCOME PER SHARE OF COMMON STOCK (in thousands except per share data) Year ended July 31, ------------------------------------------------------------ 1997 1996 1995 1994 1993 -------- ---------- ---------- ---------- --------- (Restated) (Restated) (Restated) (Restated) Net income (loss) from continuing operations before cumulative effect of accounting changes applicable to primary earnings per common share ($3,368) $22,278 $20,211 $23,341 ($26,488) Add back interest and issue expense on convertible debentures, net of tax adjustment 961 1,856 2,720 5,477 4,941 -------- ------- ------- ------- --------- Adjusted income (loss) from continuing operations before cumulative effect of accounting changes applicable to common stock on a fully diluted basis (2,407) 24,134 22,931 28,818 (21,547) Income (loss) from discontinued operations, net of taxes 3,879 2,259 (6,324) Loss from extraordinary item, net of taxes (2,654) (1,146) Cumulative effect of accounting changes - net of taxes (223,950) -------- ------- ------- ------- --------- Net income (loss) applicable to fully diluted earnings per share ($5,061) $24,134 $25,664 $31,077 ($251,821) ======= ======= ======= ======= ========= Average number of shares outstanding on a fully diluted basis: Shares used in calculating primary earnings per share 25,467 20,814 18,213 18,062 17,909 Unexercised options 259 280 375 Shares on conversion of 7.00% debentures 2,674 2,674 Shares on conversion of 7.75% debentures 1,903 1,905 5,556 1,157 -------- ------- ------- ------- --------- Average number of shares outstanding on a fully diluted basis 27,629 22,999 24,144 21,893 20,583 ======= ======= ======= ======= ========= Fully diluted net income (loss) per common share before extraordinary item and cumulative effect of accounting changes ($0.09) $1.05 $0.95 $1.32 ($1.04) Income (loss) from discontinued operations, net of taxes 0.16 0.10 (0.31) Extraordinary item, net of taxes (0.09) (0.05) Loss from cumulative effect of accounting changes - net of taxes (10.88) ------- ------- ------- ------- --------- Fully diluted net income (loss) per average common share ($0.18) $1.05 $1.06 $1.42 ($12.23) ======= ======= ======= ======= ========= Note: The fully diluted net income (loss) per average share for the twelve months ended July 31, 1996 and 1995, excludes the assumed conversion of those securities that results in improvement of earnings per share. The assumed conversion of the convertible debentures for prior years were antidilutive, hence primary earnings per share are presented for these periods in the Company's Consolidated Statement of Earnings.