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, | |||||||||||||||
2012 | 2011 | 2012 | 2011 | |||||||||||||
Earnings (loss) from continuing operations | $ | 118 | $ | 219 | $ | 301 | $ | 524 | ||||||||
Discontinued operations | 16 | 0 | 21 | 49 | ||||||||||||
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Net earnings (loss) | 134 | 219 | 322 | 573 | ||||||||||||
Effect of dilutive securities | 0 | 0 | 0 | 0 | ||||||||||||
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Net earnings – assuming dilution | $ | 134 | $ | 219 | $ | 322 | $ | 573 | ||||||||
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Average common shares outstanding | 434.8 | 428.6 | 434.5 | 429.4 | ||||||||||||
Effect of dilutive securities | ||||||||||||||||
Restricted stock performance share plan | 3.4 | 1.9 | 4.8 | 4.0 | ||||||||||||
Stock options | 0 | 0 | 0 | 0 | ||||||||||||
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Average common shares outstanding – assuming dilution | 438.2 | 430.5 | 439.3 | 433.4 | ||||||||||||
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Earnings (loss) per common share from continuing operations | $ | 0.27 | $ | 0.51 | $ | 0.69 | $ | 1.22 | ||||||||
Discontinued operations | 0.04 | 0 | 0.05 | 0.11 | ||||||||||||
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Net earnings (loss) per common share | $ | 0.31 | $ | 0.51 | $ | 0.74 | $ | 1.33 | ||||||||
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Earnings (loss) per common share from continuing operations – assuming dilution | $ | 0.27 | $ | 0.51 | $ | 0.68 | $ | 1.21 | ||||||||
Discontinued operations | 0.04 | 0 | 0.05 | 0.11 | ||||||||||||
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Net earnings (loss) per common share – assuming dilution | $ | 0.31 | $ | 0.51 | $ | 0.73 | $ | 1.32 | ||||||||
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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. |