EXHIBIT (11)
THE MEAD CORPORATION AND CONSOLIDATED SUBSIDIARIES
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CALCULATION OF PRIMARY NET EARNINGS PER COMMON AND COMMON EQUIVALENT SHARE
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(All dollar amounts in thousands, except per share amounts)
Third Quarter Ended ThreeQuarters Ended
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Sept. 28, Sept. 29, Sept. 28, Sept. 29,
1997 1996 1997 1996
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NET EARNINGS APPLICABLE TO COMMON AND COMMON
EQUIVALENT SHARES $50,325 $ 62,693 $118,290 $166,069
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AVERAGE NUMBER OF COMMON AND COMMON EQUIVALENT
SHARES OUTSTANDING:
Average number of common shares outstanding 52,433 52,186 52,290 52,497
Dilutive effect of stock options after
application of treasury stock method 1,188 824 966 736
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AVERAGE NUMBER OF COMMON AND COMMON
EQUIVALENT SHARES OUTSTANDING 53,621 53,010 53,256 53,234
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PRIMARY NET EARNINGS PER COMMON AND COMMON
EQUIVALENT SHARE $ .94 $1.18 $2.22 $3.12
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