EX-11 2 w99844xexv11.htm CALCULATION OF EARNINGS PER SHARE exv11
 

EXHIBIT 11

AIRGAS, INC.

EARNINGS PER SHARE CALCULATIONS

                 
    Three Months Ended
    June 30,
(In thousands, except per share amounts)
  2004
   2003
Weighted Average Shares Outstanding:
                
Basic shares outstanding
     74,200       71,900  
Stock options and warrants – incremental shares
     2,000       2,000  
 
    
 		      
 		  
Diluted shares outstanding
     76,200       73,900  
 
    
 		      
 		  
Net earnings
   $ 22,116     $ 18,528  
 
    
 		      
 		  
Basic earnings per share
   $ 0.30     $ 0.26  
 
    
 		      
 		  
Diluted earnings per share
   $ 0.29     $ 0.25