EX-11 3 ex11.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 March 31, -------------------------------- 2002 2001 ------------- ------------- Earnings before extraordinary items and accounting change $ 65 $ 18 Extraordinary items - (46) Cumulative effect of accounting change - (16) ------------- ------------- Net earnings (loss) 65 (44) Effect of dilutive securities - - ------------- ------------- Net earnings (loss) - assuming dilution $ 65 $ (44) ============= ============= Average common shares outstanding 482.3 482.7 Effect of dilutive securities Stock options 2.0 1.0 ------------- ------------- Average common shares outstanding - assuming dilution 484.3 483.7 ============= ============= Earnings before extraordinary items and accounting change $ 0.13 $ 0.04 Extraordinary items - (0.10) Cumulative effect of accounting change - (0.03) ------------- ------------- Net earnings (loss) per common share $ 0.13 $ (0.09) ============= ============= Net earnings (loss) per common share - assuming dilution $ 0.13 $ (0.09) ============= =============
Note: If an amount does not appear in the above table, the security was antidilutive for the period presented. Antidilutive securities included securities under the long-term incentive compensation plan and preferred securities of a subsidiary trust for the periods presented.