EX-11 4 exh11.txt EXHIBIT 11 - CALCULATION OF EPS
EXHIBIT 11 AIRGAS, INC. EARNINGS PER SHARE CALCULATIONS Three Months Ended Nine Months Ended December 31, December 31, 2001 2000 2001 2000 (In thousands, except per share amounts) ------------------ ----------------- Weighted Average Shares Outstanding: ------------------------------------ Basic shares outstanding 68,300 66,500 67,900 65,700 Stock options and warrants - incremental shares 2,000 700 1,500 500 Contingently issuable shares -- -- -- 800 ------ ------ ------ ------ Diluted shares outstanding 70,300 67,200 69,400 67,000 ====== ====== ====== ====== Net earnings (loss) $11,845 $ 6,676 $(19,151) $26,895 ====== ====== ====== ====== Basic earnings per share: ------------------------- Earnings per share before the cumulative effect of a change in accounting principle $ .17 $ .10 $ .59 $ .41 Cumulative effect per share of a change in accounting principle -- -- (.87) -- ------ ------ ------- ------ Net earnings (loss) per share $ .17 $ .10 $ (.28) $ .41 ====== ====== ======= ====== Diluted earnings per share: --------------------------- Earnings per share before the cumulative effect of a change in accounting principle $ .17 $ .10 $ .57 $ .40 Cumulative effect per share of a change in accounting principle -- -- (.85) -- ------ ------ ------- ------ Net earnings (loss) per share $ .17 $ .10 $ (.28) $ .40 ====== ====== ======= ====== Pro forma amounts assuming the application of the change in accounting principle (adoption of SFAS 142) applied retroactively: ------------------------------------------ Net earnings $11,845 $ 9,926 $39,849 $37,249 ====== ====== ====== ====== Basic earnings per share $ .17 $ .15 $ .59 $ .57 ====== ====== ====== ====== Diluted earnings per share $ .17 $ .15 $ .57 $ .56 ====== ====== ====== ======