EXHIBIT (11.1)
THE MEAD CORPORATION AND CONSOLIDATED SUBSIDIARIES
CALCULATION OF PRIMARY NET EARNINGS PER COMMON AND COMMON EQUIVALENT SHARE
(All amounts in thousands, except per share amounts)
Year Ended December 31
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1993 1992 1991
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NET EARNINGS APPLICABLE TO COMMON AND COMMON
EQUIVALENT SHARES: $124,166 $71,603 $ 6,878
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AVERAGE NUMBER OF COMMON AND COMMON EQUIVALENT
SHARES OUTSTANDING:
Average number of common shares outstanding 59,021 58,606 58,307
Dilutive effect of stock options after
application of treasury stock method 572 403 256
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AVERAGE NUMBER OF COMMON AND COMMON
EQUIVALENT SHARES OUTSTANDING 59,593 59,009 58,563
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PRIMARY NET EARNINGS PER COMMON
AND COMMON EQUIVALENT SHARE $2.08 $1.21 $.12
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