EX-11 2 w11678exv11.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)   2005   2004
Weighted Average Shares Outstanding:
                
 
                
Basic shares outstanding
     76,300       74,200  
 
                
Stock options and warrants — incremental shares
     1,700       2,000  
 
                
 
                
Diluted shares outstanding
     78,000       76,200  
 
                
 
                
Net earnings
   $ 29,647     $ 22,116  
 
                
 
                
Basic earnings per share
   $ 0.39     $ 0.30  
 
                
 
                
Diluted earnings per share
   $ 0.38     $ 0.29