EX-11 3 w68492aexv11.htm CALCULATION OF EARNINGS PER SHARE exv11
 

EXHIBIT 11

AIRGAS, INC.

EARNINGS PER SHARE CALCULATIONS

                                 
    Three Months Ended   Six Months Ended
    September 30,
   September 30,
(In thousands, except per share amounts)
   2004
   2003
   2004
   2003
Weighted Average Shares Outstanding:
                                
Basic shares outstanding
     74,700       72,600       74,400       72,200  
Stock options and warrants – incremental shares
     1,900       1,800       2,000       1,900  
 
    
 		      
 		      
 		      
 		  
Diluted shares outstanding
     76,600       74,400       76,400       74,100  
 
    
 		      
 		      
 		      
 		  
Net earnings
   $ 22,777     $ 19,113     $ 44,893     $ 37,641  
 
    
 		      
 		      
 		      
 		  
Basic earnings per share
   $ 0.30     $ 0.26     $ 0.60     $ 0.52  
 
    
 		      
 		      
 		      
 		  
Diluted earnings per share
   $ 0.30     $ 0.26     $ 0.59     $ 0.51