EX-11.1 11 esl-ex111_13.htm EX-11.1 esl-ex111_13.htm

Exhibit 11.1

ESTERLINE TECHNOLOGIES CORPORATION

(In thousands, except per share amounts)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Eleven

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Months

 

 

 

Twelve Months Ended

 

 

Ended

 

 

 

2016

 

 

2015

 

 

2014

 

 

2013

 

 

2012

 

 

2015

 

 

 

 

 

 

 

(Unaudited)

(Recast)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Computation of Earnings Per Share - Basic

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Earnings from Continuing

   Operations Attributable to

   Esterline, Net of Tax

$

116,951

 

 

$

127,895

 

 

$

165,029

 

 

$

169,125

 

 

$

112,032

 

 

$

96,665

 

 

Earnings (Loss) from Dis-

   continued Operations Attrib-

   utable to Esterline, Net of Tax

 

(15,266

)

 

 

(40,319

)

 

 

(62,611

)

 

 

(4,391

)

 

 

503

 

 

 

(37,053

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Earnings Attributable to

   Esterline

$

101,685

 

 

$

87,576

 

 

$

102,418

 

 

$

164,734

 

 

$

112,535

 

 

$

59,612

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average Number of

   Shares Outstanding

 

29,490

 

 

 

30,729

 

 

 

31,840

 

 

 

31,173

 

 

 

30,749

 

 

 

30,729

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (Loss) Per Share Attributable to Esterline - Basic:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing Operations

$

3.97

 

 

$

4.16

 

 

$

5.19

 

 

$

5.42

 

 

$

3.64

 

 

$

3.15

 

 

Discontinued Operations

 

(0.52

)

 

 

(1.31

)

 

 

(1.97

)

 

 

(0.14

)

 

 

0.02

 

 

 

(1.21

)

 

Earnings (Loss) Per Share

   - Basic

$

3.45

 

 

$

2.85

 

 

$

3.22

 

 

$

5.28

 

 

$

3.66

 

 

$

1.94

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Computation of Earnings Per Share - Diluted

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Earnings from Continuing

   Operations Attributable to

   Esterline, Net of Tax

$

116,951

 

 

$

127,895

 

 

$

165,029

 

 

$

169,125

 

 

$

112,032

 

 

$

96,665

 

 

Earnings (Loss) from Dis-

   continued Operations Attrib-

   utable to Esterline, Net of Tax

 

(15,266

)

 

 

(40,319

)

 

 

(62,611

)

 

 

(4,391

)

 

 

503

 

 

 

(37,053

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Earnings Attributable to Esterline

$

101,685

 

 

$

87,576

 

 

$

102,418

 

 

$

164,734

 

 

$

112,535

 

 

$

59,612

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted Average Number of

   Shares Outstanding

 

29,490

 

 

 

30,729

 

 

 

31,840

 

 

 

31,173

 

 

 

30,749

 

 

 

30,729

 

 

Net Shares Assumed to be Issued

   for Stock Options and RSUs

 

274

 

 

 

486

 

 

 

608

 

 

 

565

 

 

 

533

 

 

 

486

 

 

Weighted Average Number of

   Shares and Equivalent Shares

   Outstanding - Diluted

 

29,764

 

 

 

31,215

 

 

 

32,448

 

 

 

31,738

 

 

 

31,282

 

 

 

31,215

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Earnings (Loss) Per Share Attributable to Esterline - Diluted:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Continuing Operations

$

3.93

 

 

$

4.10

 

 

$

5.09

 

 

$

5.33

 

 

$

3.58

 

 

$

3.10

 

 

Discontinued Operations

 

(0.51

)

 

 

(1.29

)

 

 

(1.93

)

 

 

(0.14

)

 

 

0.02

 

 

 

(1.19

)

 

Earnings (Loss) Per Share

   - Diluted

$

3.42

 

 

$

2.81

 

 

$

3.16

 

 

$

5.19

 

 

$

3.60

 

 

$

1.91