Exhibit (11.2)
THE MEAD CORPORATION AND CONSOLIDATED SUBSIDIARIES
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CALCULATION OF FULLY DILUTED NET EARNINGS PER COMMON AND COMMON EQUIVALENT SHARE
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(1)
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(ALL AMOUNTS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
Third Quarter Ended Three Quarters Ended
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October 2, October 3, October 2, October 3,
1994 1993 1994 1993
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NET EARNINGS APPLICABLE TO COMMON AND COMMON
EQUIVALENT SHARES $54,577 $29,994 $137,352 $107,099
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AVERAGE NUMBER OF SHARES OUTSTANDING ON A
FULLY DILUTED BASIS:
Shares used in calculating primary earnings
per share 62,722 59,713 62,528 62,203
Additional dilutive effect of stock options after
application of treasury stock method 279 2 393 10
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AVERAGE NUMBER OF SHARES OUTSTANDING ON A
FULLY DILUTED BASIS 63,000 59,715 62,922 62,213
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FULLY DILUTED NET EARNINGS PER COMMON AND
COMMON EQUIVALENT SHARE $.87 $.50 $2.18 $1.72
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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%.