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, | |||||||||||||||
2011 | 2010 | 2011 | 2010 | |||||||||||||
Earnings (loss) from continuing operations | $ | 224 | $ | 93 | $ | 517 | $ | (69 | ) | |||||||
Discontinued operations | 0 | 0 | 49 | 0 | ||||||||||||
Net earnings (loss) | 224 | 93 | 566 | (69 | ) | |||||||||||
Effect of dilutive securities | 0 | 0 | 0 | 0 | ||||||||||||
Net earnings – assuming dilution | $ | 224 | $ | 93 | $ | 566 | $ | (69 | ) | |||||||
Average common shares outstanding | 428.6 | 429.6 | 429.4 | 429.2 | ||||||||||||
Effect of dilutive securities | ||||||||||||||||
Restricted stock performance share plan | 1.9 | 3.8 | 4.0 | 0 | ||||||||||||
Stock options | 0 | 0 | 0 | 0 | ||||||||||||
Average common shares outstanding – assuming dilution | 430.5 | 433.4 | 433.4 | 429.2 | ||||||||||||
Earnings (loss) per common share from continuing operations | $ | 0.52 | $ | 0.22 | $ | 1.20 | $ | (0.16 | ) | |||||||
Discontinued operations | 0 | 0 | 0.11 | 0 | ||||||||||||
Net earnings (loss) per common share | $ | 0.52 | $ | 0.22 | $ | 1.31 | $ | (0.16 | ) | |||||||
Earnings (loss) per common share from continuing operations - assuming dilution | $ | 0.52 | $ | 0.21 | $ | 1.19 | $ | (0.16 | ) | |||||||
Discontinued operations | 0 | 0 | 0.11 | 0 | ||||||||||||
Net earnings (loss) per common share – assuming dilution | $ | 0.52 | $ | 0.21 | $ | 1.30 | $ | (0.16 | ) | |||||||
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. |
50