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                                                                    Exhibit 11.2


                                  IRIDIUM LLC
                (A Development Stage Limited Liability Company)

                   COMPUTATION OF LOSS PER CLASS 1 INTEREST
                  (in thousands except Member Interest data)

<TABLE>
<CAPTION>
                                                             THREE MONTHS ENDED MARCH 31,
                                                        -------------------------------------
                                                                1997                 1998     
                                                        ----------------     ----------------
<S>                                                       <C>                  <C>
NET LOSS APPLICABLE TO CLASS 1 INTERESTS:                                    
                                                                             
Net loss                                                  $      35,928        $     203,566
                                                                             
Preferred dividend requirement                                    1,674                1,447 
                                                        ----------------     ----------------
                                                                             
Net loss applicable to class 1 interests                  $      37,602        $     205,013 
                                                        ================     ================
                                                                             
AVERAGE NUMBER OF CLASS 1 INTERESTS:                                         
                                                                             
Average number of Class 1 Interests outstanding             120,836,025          141,227,834
                                                                             
     Assumed exercise of options and warrants                 9,795,747           18,219,622
                                                                             
     Assumed conversion of Series A Class 2 Interest            869,544              738,679 
                                                        ----------------     ----------------
                                                                             
Average number of Class 1 Interests assumed to be                            
     outstanding, assuming dilution                         131,501,316          160,186,135 
                                                        ================     ================
                                                                             
NET LOSS PER CLASS 1 INTEREST:                                               
                                                                             
Basic (1)                                                 $       0.31         $       1.45
                                                                             
Diluted (2)                                               $       0.29         $       1.28
</TABLE>                                                
                                                        

(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 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 diluted loss per Class 1 Interest in accordance with Regulation S-K,
       Item 601 (a) (11).


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