Attached files
Exhibit 11
INTERNATIONAL PAPER COMPANY
STATEMENT OF COMPUTATION OF PER SHARE EARNINGS (c)
(Unaudited)
(In millions, except per share amounts)
In millions, except per share amounts | 2015 | 2014 | 2013 | |||||||||
Earnings (loss) from continuing operations | $ | 938 | $ | 568 | $ | 1,704 | ||||||
Discontinued operations | — | (13 | ) | (309 | ) | |||||||
Net earnings (loss) | 938 | 555 | 1,395 | |||||||||
Effect of dilutive securities (a) | — | — | — | |||||||||
Net earnings - assuming dilution | $ | 938 | $ | 555 | $ | 1,395 | ||||||
Average common shares outstanding | 417.4 | 427.7 | 443.3 | |||||||||
Effect of dilutive securities (a) | ||||||||||||
Restricted stock performance share plan | 3.2 | 4.2 | 4.5 | |||||||||
Stock options (b) | — | 0.1 | 0.3 | |||||||||
Average common shares outstanding - assuming dilution | 420.6 | 432.0 | 448.1 | |||||||||
Earnings (loss) per common share from continuing operations | $ | 2.25 | $ | 1.33 | $ | 3.85 | ||||||
Discontinued operations | — | (0.03 | ) | (0.70 | ) | |||||||
Net earnings (loss) per common share | $ | 2.25 | $ | 1.30 | $ | 3.15 | ||||||
Earnings (loss) per common share from continuing operations - assuming dilution | $ | 2.23 | $ | 1.31 | $ | 3.80 | ||||||
Discontinued operations | — | (0.02 | ) | (0.69 | ) | |||||||
Net earnings (loss) per common share - assuming dilution | $ | 2.23 | $ | 1.29 | $ | 3.11 | ||||||
(a) Securities are not included in the table in periods when antidilutive.
(b) Options to purchase shares were not included in the computation of diluted common shares outstanding because their exercise price exceeded the average market price of the Company's common stock for each respective reporting date.
(c) Attributable to International Paper Company common shareholders.