1 EXHIBIT 11 BOISE CASCADE OFFICE PRODUCTS CORPORATION COMPUTATION OF PER SHARE EARNINGS For the Year Ended December 31 ------------------------------ 1996 1995 1994 -------------- -------------- -------------- (in thousands, except share information) PRIMARY EARNINGS PER SHARE Shares of Common Stock: Weighted average shares outstanding ... 62,444,170 61,660,100 61,387,500 ============== ============== ============== Net income ............................. $ 55,349 $ 43,179 $ 26,465 ============== ============== ============== Primary earnings per share (pro forma 1995 and 1994) (1) .......... $ .89 $ $.70 $ .43 ============== ============== ============== FULLY DILUTED EARNINGS PER SHARE Shares of Common Stock: Weighted average shares outstanding ... 62,444,170 61,660,100 61,387,500 Dilutive effect of options ............ 236,517 47,730 - Dilutive effect of contingent shares .. 475,828 139,340 - Fully Diluted Weighted Average Shares Outstanding ..................... 63,156,515 61,847,170 61,387,500 ============== ============== ============== Net income ............................. $ 55,349 $ 43,179 $ 26,465 ============== ============== ============== Fully diluted earnings per share (pro forma 1995 and 1994) (1) and (2) .. $ .88 $ .70 $ .43 ============== ============== ============== (1) Information concerning pro forma earnings per share is included in Note 2, "Summary of Significant Accounting Policies," of the Notes to Financial Statements in the Company's 1996 Annual Report and is incorporated herein by reference. (2) Fully diluted earnings per share for all years presented are not disclosed in the financial statements because the amounts are not considered dilutive under the provisions of Accounting Principles Board Opinion No. 15, "Earnings Per Share."