EX-11 5 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 Nine Months Ended September 30, September 30, ----------------------------- --------------------------- 2001 2000 2001 2000 ------------- ------------- ------------ ------------- Net earnings (loss) before extraordinary items and cumulative effect of accounting change $ (275) $ 175 $ (570) $ 689 Effect of dilutive securities Preferred securities of subsidiary trust - - - 12 ------ ----- ------ ----- Net earnings (loss) before extraordinary items and cumulative effect of accounting change - assuming dilution $ (275) $ 175 $ (570) $ 701 ====== ===== ====== ===== Average common shares outstanding 482.9 481.6 482.9 438.9 Effect of dilutive securities Preferred securities of subsidiary trust - - - 8.3 Stock options - 0.1 - 0.3 ------ ----- ------ ----- Average common shares outstanding - assuming dilution 482.9 481.7 482.9 447.5 ====== ===== ====== ===== Earnings (loss) per common share before extraordinary items and cumulative effect of accounting change $ (0.57) $ 0.36 $ (1.18) $ 1.57 ====== ===== ====== ===== Earnings (loss) per common share before extraordinary items and cumulative effect of accounting change - assuming dilution $ (0.57) $ 0.36 $ (1.18) $ 1.57 ====== ===== ====== =====
Note: If an amount does not appear in the above table, the security was antidilutive for the period presented.