EXHIBIT 11
GEORGIA-PACIFIC CORPORATION AND SUBSIDIARIES
STATEMENTS OF COMPUTATION OF PER SHARE EARNINGS (Unaudited)
(Millions, except per share amounts)
Three Months Nine Months
Ended September 30, Ended September 30,
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1997 1996 1997 1996
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Income
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Income before extraordinary item $ 86 $ 99 $ 203 $ 159
Extraordinary item, net of tax - - - (5)
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Net income $ 86 $ 99 $ 203 $ 154
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Weighted Average Shares
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Common shares outstanding,
net of restricted stock 91,472 90,557 91,206 90,516
Add - shares assumed to
be issued under long-term
incentive (restricted stock),
stock option and stock
purchase plans at the average
market price 502 648 469 599
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Primary shares 91,974 91,205 91,675 91,115
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Add - additional shares assumed
to be issued under long-term
incentive (restricted stock),
stock option and stock
purchase plans at quarter end
market price (if higher than
average market price) 96 105 266 159
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Fully diluted shares 92,070 91,310 91,941 91,274
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Income Per Share
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Income before extraordinary item $ .94 $ 1.09 $ 2.23 $ 1.75
Extraordinary item,net of tax - - - (.05)
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Net income $ .94 $ 1.09 $ 2.23 $ 1.70
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Income Per Share - Primary
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Income before extraordinary item $ .94 $ 1.09 $ 2.21 $ 1.74
Extraordinary item, net of tax - - - (.05)
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Net income $ .94 $ 1.09 $ 2.21 $ 1.69
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Income Per Share - Fully Diluted
- ---------------------------------------
Income before extraordinary item $ .93 $ 1.08 $ 2.21 $ 1.74
Extraordinary item, net of tax - - - (.05)
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Net income $ .93 $ 1.08 $ 2.21 $ 1.69
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A single presentation of income (loss) per share is made on the Statements of
Income because the effects of assuming issuance of common shares under long-term
incentive, stock option and stock purchase plans are either antidilutive or