EXHIBIT (11.2)
THE MEAD CORPORATION AND CONSOLIDATED SUBSIDIARIES
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CALCULATION OF FULLY DILUTED NET EARNINGS PER COMMON AND COMMON
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EQUIVALENT SHARE (1)
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(All amounts in thousands, except per share amounts)
First Quarter Ended
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March 31, April 2,
1996 1995
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NET EARNINGS APPLICABLE TO COMMON AND COMMON
EQUIVALENT SHARES $36,346 $61,742
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AVERAGE NUMBER OF SHARES OUTSTANDING ON A
FULLY DILUTED BASIS:
Shares used in calculating primary earnings
per share 53,472 57,668
Additional dilutive effect of stock options after
application of treasury stock method 25 43
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AVERAGE NUMBER OF SHARES OUTSTANDING ON A
FULLY DILUTED BASIS 53,497 57,711
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FULLY DILUTED NET EARNINGS PER COMMON AND
COMMON EQUIVALENT SHARE $ .68 $ 1.07
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(1) This calculation is submitted in accordance with 17 CFR
229.601(b)(11) although not required by APB Opinion No. 15 because it
results in dilution of less than 3%.