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

9 Months Ended

Sep. 30, 2023

Basic earnings per share is computed by dividing earnings by the weighted average number of common shares outstanding. Diluted earnings per share is computed assuming that all potentially dilutive securities were converted into common shares. There are no adjustments required to be made to net income for purposes of computing basic and diluted earnings per share. A reconciliation of the amounts included in the computation of basic earnings (loss) per share from continuing operations and diluted earnings (loss) per share from continuing operations is as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
In millions, except per share amounts	2023		2022		2023		2022
Earnings (loss) from continuing operations	$	192	$	887	$	586	$	1,570
Weighted average common shares outstanding	346.0		357.8		347.2		366.8
Effect of dilutive securities
Restricted performance share plan	2.1		2.6		1.8		3.9
Weighted average common shares outstanding – assuming dilution	348.1		360.4		349.0		370.7
Basic earnings (loss) per share from continuing operations	$	0.55	$	2.48	$	1.69	$	4.28
Diluted earnings (loss) per share from continuing operations	$	0.55	$	2.46	$	1.68	$	4.24