EARNINGS PER SHARE ATTRIBUTABLE TO INTERNATIONAL PAPER COMPANY COMMON SHAREHOLDERS Footnote

9 Months Ended

Sep. 30, 2016

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 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	2016		2015		2016		2015
Earnings (loss) from continuing operations	$	312	$	220	$	691	$	760
Effect of dilutive securities	—		—		—		—
Earnings (loss) from continuing operations – assuming dilution	$	312	$	220	$	691	$	760
Average common shares outstanding	411.2		415.1		411.0		418.7
Effect of dilutive securities
Restricted stock performance share plan	4.1		2.4		4.5		3.2
Average common shares outstanding – assuming dilution	415.3		417.5		415.5		421.9
Basic earnings (loss) from continuing operations per common share	$	0.76	$	0.53	$	1.68	$	1.81
Diluted earnings (loss) from continuing operations per common share	$	0.75	$	0.53	$	1.66	$	1.80