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Exhibit 11.1

INTERNATIONAL COAL GROUP, INC.
STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS
(DOLLARS IN THOUSANDS, EXCEPT PER SHARE AMOUNTS)
 
   
Year ended December 31,
 
 
  
2008
   
2007
   
2006
 
Basic Earnings Per Share
  
                     
Net Loss Available to Common Stockholders
  
$
(26,227
)
 
$
(147,562
)
 
$
(9,320
)
Weighted-Average Shares of Common Stock
  
 
152,632,586
     
152,304,461
     
152,028,165
 
Basic Earnings Per Share
  
$
(0.17
)
 
$
(0.97
)
 
$
(0.06
)
                         
Diluted Earnings Per Share
  
                     
Net Loss Available to Common Stockholders
  
$
(26,227
)
 
$
(147,562
)
 
$
(9,320
)
Weighted-Average Shares of Common Stock and Other Potentially Dilutive Securities Outstanding:
  
                     
Common Stock
  
 
152,632,586
     
152,304,461
     
152,028,165
 
Incremental Shares Under Stock Compensation Plans and Issuable Upon Conversion of Convertible Notes (1)
  
 
—  
     
—  
     
—  
 
Total
  
 
152,632,586
     
152,304,461
     
152,028,165
 
                         
Diluted Earnings Per Share
  
$
(0.17
)
 
$
(0.97
)
 
$
(0.06
)

 
(1)
Includes the incremental effect of stock options outstanding computed under the treasury stock method, as applicable.