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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,
  
 
  
2009
    
2008
    
2007
  
Basic Earnings Per Share
  
                      
Net Loss Available to Common Stockholders
  
$
21,458
    
$
(26,227
)
  
$
(147,562
)
Weighted-Average Shares of Common Stock
  
  
153,630,446
      
152,632,586
      
152,304,461
  
Basic Earnings Per Share
  
$
0.14
    
$
(0.17
)
  
$
(0.97
)
                         
Diluted Earnings Per Share
  
                      
Net Loss Available to Common Stockholders
  
$
21,458
    
$
(26,227
)
  
$
(147,562
)
Weighted-Average Shares of Common Stock and Other Potentially Dilutive Securities Outstanding:
  
                      
Common Stock
  
  
153,630,446
      
152,632,586
      
152,304,461
  
Incremental Shares Under Stock Compensation Plans (1)
  
  
1,755,817
      
—  
      
—  
  
Total
  
  
155,386,263
      
152,632,586
      
152,304,461
  
                         
Diluted Earnings Per Share
  
$
0.14
    
$
(0.17
)
  
$
(0.97
)


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