EARNINGS PER SHARE ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY COMMON SHAREHOLDERS (Note)

9 Months Ended

Sep. 30, 2013

Earnings Per Share, Basic and Diluted [Abstract]

Earnings Per Share [Note Text Block]

EARNINGS PER SHARE ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY COMMON SHAREHOLDERS

Basic earnings per common share are computed by dividing earnings by the weighted average number of common shares outstanding. Diluted earnings per common share are computed assuming that all potentially dilutive securities, including “in-the-money” stock options, were converted into common shares. A reconciliation of the amounts included in the computation of earnings (loss) per common share, and diluted earnings (loss) per common share is as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
In millions, except per share amounts	2013		2012		2013		2012
Earnings (loss) from continuing operations	$	392	$	223	$	919	$	524
Effect of dilutive securities (a)	—		—		—		—
Earnings (loss) from continuing operations – assuming dilution	$	392	$	223	$	919	$	524
Average common shares outstanding	445.9		435.1		444.1		434.7
Effect of dilutive securities (a)
Restricted stock performance share plan	3.6		4.7		4.3		5.0
Stock options (b)	0.2		—		0.3		—
Average common shares outstanding – assuming dilution	449.7		439.8		448.7		439.7
Basic earnings (loss) from continuing operations per common share	$	0.88	$	0.51	$	2.07	$	1.20
Diluted earnings (loss) from continuing operations per common share	$	0.87	$	0.51	$	2.05	$	1.19

(a) Securities are not included in the table in periods when antidilutive.

(b) Options to purchase 10.7 million shares for the three months ended September 30, 2012 and 9.4 million shares for the nine months ended September 30, 2012 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 period.