Exhibit 11
INTERNATIONAL PAPER COMPANY
STATEMENT OF COMPUTATION OF PER SHARE EARNINGS (1)
(Unaudited)
(In millions, except per share amounts)
Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
2016 | 2015 | 2016 | 2015 | ||||||||||||
Earnings (loss) from continuing operations | $ | 40 | $ | 227 | $ | 379 | $ | 540 | |||||||
Discontinued operations | — | — | (5 | ) | — | ||||||||||
Net earnings (loss) | 40 | 227 | 374 | 540 | |||||||||||
Effect of dilutive securities | — | — | — | — | |||||||||||
Net earnings - assuming dilution | $ | 40 | $ | 227 | $ | 374 | $ | 540 | |||||||
Average common shares outstanding | 411.2 | 420.0 | 411.0 | 420.6 | |||||||||||
Effect of dilutive securities | |||||||||||||||
Restricted stock performance share plan | 3.5 | 1.9 | 4.1 | 2.8 | |||||||||||
Average common shares outstanding - assuming dilution | 414.7 | 421.9 | 415.1 | 423.4 | |||||||||||
Earnings (loss) per common share from continuing operations | $ | 0.10 | $ | 0.54 | $ | 0.92 | $ | 1.28 | |||||||
Discontinued operations | — | — | (0.01 | ) | — | ||||||||||
Net earnings (loss) per common share | $ | 0.10 | $ | 0.54 | $ | 0.91 | $ | 1.28 | |||||||
Earnings (loss) per common share from continuing operations - assuming dilution | $ | 0.10 | $ | 0.54 | $ | 0.91 | $ | 1.28 | |||||||
Discontinued operations | — | — | (0.01 | ) | — | ||||||||||
Net earnings (loss) per common share - assuming dilution | $ | 0.10 | $ | 0.54 | $ | 0.90 | $ | 1.28 |
Note: If an amount does not appear in the above table, the security was antidilutive for the periods presented.
(1) | Attributable to International Paper Company common shareholders. |