EX-11 3 ex-11.txt EXHIBIT 11 (EXHIBIT 11) INTERNATIONAL PAPER COMPANY STATEMENT OF COMPUTATION OF PER SHARE EARNINGS (UNAUDITED) (IN MILLIONS, EXCEPT PER SHARE AMOUNTS)
THREE MONTHS ENDED SIX MONTHS ENDED JUNE 30, JUNE 30, ------------------------ ------------------------ 2000 1999 2000 1999 ---------- ---------- ---------- --------- EARNINGS (LOSS) BEFORE EXTRAORDINARY ITEMS $ 270 $ (58) $ 514 $ (26) Effect of dilutive securities Preferred securities of subsidiary trust 5 9 ---------- ---------- ---------- --------- EARNINGS (LOSS) BEFORE EXTRAORDINARY ITEMS -ASSUMING DILUTION $ 275 $ (58) $ 523 $ (26) ========== ========== ========== ========= AVERAGE COMMON SHARES OUTSTANDING 421.0 413.0 417.3 412.5 Effect of dilutive securities Preferred securities of subsidiary trust 8.3 8.3 Long-term incentive plan deferred compensation (1.1) (1.1) Stock options 0.3 0.5 ---------- ---------- ---------- --------- AVERAGE COMMON SHARES OUTSTANDING - ASSUMING DILUTION 429.6 411.9 426.1 411.4 ========== ========== ========== ========= EARNINGS (LOSS) PER COMMON SHARE BEFORE EXTRAORDINARY ITEMS $ 0.64 $ (0.14) $ 1.23 $ (0.06) ========== ========== ========== ========= EARNINGS (LOSS) PER COMMON SHARE BEFORE EXTRAORDINARY ITEMS - ASSUMING DILUTION $ 0.64 $ (0.14) $ 1.23 $ (0.06) ========== ========== ========== =========
Note: If an amount does not appear in the above table, the security was antidilutive for the period presented.