EX-11 2 exhibit11.txt FORM 10Q, EXHIBIT 11
EXHIBIT 11 ALEXANDER & BALDWIN, INC. COMPUTATION OF EARNINGS PER SHARE (In millions, except per share amounts) ------------------------------------------------------------------------------------------------------------------- Three Months Ended Six Months Ended June 30, June 30, 2003 2002 2003 2002 ---- ---- ---- ---- Basic Earnings Per Share Net income $ 23.2 $ 13.2 $ 40.8 $ 23.0 ======== ========= ========= ========= Average number of shares outstanding 41.4 41.0 41.4 40.8 ======== ========= ========= ========= Basic earnings per share $ 0.56 $ 0.32 $ 0.99 $ 0.56 ========= ========== ========== ========== Diluted Earnings Per Share Net income $ 23.2 $ 13.2 $ 40.8 $ 23.0 ======== ========= ========= ========= Average number of shares outstanding 41.4 41.0 41.4 40.8 Effect of assumed exercise of outstanding stock options 0.2 0.4 0.2 0.3 -------- --------- --------- --------- Average number of shares outstanding after assumed exercise of outstanding stock options 41.6 41.4 41.6 41.1 ======== ========= ========= ========= Diluted earnings per share $ 0.56 $ 0.32 $ 0.98 $ 0.56 ========= ========== ========== ==========