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 30, March 31,
1997 1996
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NET EARNINGS APPLICABLE TO COMMON AND COMMON
EQUIVALENT SHARES $ 20,177 $ 36,346
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AVERAGE NUMBER OF SHARES OUTSTANDING ON A
FULLY DILUTED BASIS:
Shares used in calculating primary earnings
per share 53,044 53,472
Additional dilutive effect of stock options after
application of treasury stock method 25
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AVERAGE NUMBER OF SHARES OUTSTANDING ON A
FULLY DILUTED BASIS 53,044 53,497
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FULLY DILUTED NET EARNINGS PER COMMON AND
COMMON EQUIVALENT SHARE $ .38 $ .68
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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%.