EX-11 5 a2087068zex-11.htm EXHIBIT 11
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EXHIBIT 11


AIRGAS, INC.

EARNINGS PER SHARE CALCULATIONS

 
   Three Months Ended
June 30,
  
(In thousands, except per share amounts)
  
  2002
   2001
  
Weighted Average Shares Outstanding:              
 
Basic shares outstanding
 
 
69,900
 
 
67,400
 
 
Stock options and warrants — incremental shares
 
 
2,100
 
 
1,000
 
   
 
 
 
Diluted shares outstanding
 
 
72,000
 
 
68,400
 
   
 
 

Net earnings
 
$
14,044
 
$
(45,549
)
   
 
 

Basic earnings per share
 
$
.20
 
$
(.68
)
   
 
 

Diluted earnings per share
 
$
.20
 
$
(.67
)
   
 
 


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AIRGAS, INC. EARNINGS PER SHARE CALCULATIONS