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

3 Months Ended

Mar. 31, 2025

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 and diluted earnings (loss) per share is as follows:


	Three Months Ended March 31,
In millions, except per share amounts	2025		2024
Net earnings (loss)	$	(105)	$	56
Weighted average common shares outstanding	437.6		346.7
Effect of dilutive securities (a)
Restricted performance share plan	—		1.8
Weighted average common shares outstanding – assuming dilution	437.6		348.5
Basic earnings (loss) per share	$	(0.24)	$	0.16
Diluted earnings (loss) per share	$	(0.24)	$	0.16

(a) 6.1 million of securities were anti-dilutive for the three months ended March 31, 2025 and were not included in the table.