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, | ||||||||||||||
2017 | 2016 | 2017 | 2016 | ||||||||||||
Earnings (loss) from continuing operations | $ | 80 | $ | 40 | $ | 289 | $ | 379 | |||||||
Discontinued operations | — | — | — | (5 | ) | ||||||||||
Net earnings (loss) | 80 | 40 | 289 | 374 | |||||||||||
Effect of dilutive securities | — | — | — | — | |||||||||||
Net earnings - assuming dilution | $ | 80 | $ | 40 | $ | 289 | $ | 374 | |||||||
Average common shares outstanding | 412.9 | 411.2 | 412.5 | 411.0 | |||||||||||
Effect of dilutive securities | |||||||||||||||
Restricted stock performance share plan | 3.5 | 3.5 | 4.2 | 4.1 | |||||||||||
Average common shares outstanding - assuming dilution | 416.4 | 414.7 | 416.7 | 415.1 | |||||||||||
Earnings (loss) per common share from continuing operations | $ | 0.19 | $ | 0.10 | $ | 0.70 | $ | 0.92 | |||||||
Discontinued operations | — | — | — | (0.01 | ) | ||||||||||
Net earnings (loss) per common share | $ | 0.19 | $ | 0.10 | $ | 0.70 | $ | 0.91 | |||||||
Earnings (loss) per common share from continuing operations - assuming dilution | $ | 0.19 | $ | 0.10 | $ | 0.69 | $ | 0.91 | |||||||
Discontinued operations | — | — | — | (0.01 | ) | ||||||||||
Net earnings (loss) per common share - assuming dilution | $ | 0.19 | $ | 0.10 | $ | 0.69 | $ | 0.90 |
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. |