EX-11.1 2 a2145833zex-11_1.htm EXHIBIT 11.1
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Exhibit 11.1

WESTERN GAS RESOURCES, INC.
COMPUTATION OF PER SHARE EARNINGS
DECEMBER 31, 2003

 
   Weighted
Average
Shares Of
Common
Stock
Outstanding
   Net
Income
   Earnings
Per Share
Of Common
Stock
Net income       $ 84,219,000      

Weighted average shares of common stock outstanding
 
66,412,228
 
 
 
 
 
 

Less preferred stock dividends:
 
 
 
 
 
 
 
 
  Special dividend on redemption of $2.625 cumulative convertible preferred stock         (45,420 )    
  $2.625 cumulative convertible preferred stock         (6,795,651 )    
   
 
     

 
 
66,412,228
 
$
77,377,929
 
 
 
   
 
     

Basic earnings per share of common stock
 
 
 
 
 
 
$
1.17
             

Assume exercise of common stock equivalents
 
8,282,192
 
 
6,841,071
 
 
 
  (Anti-dilutive common stock equivalents are not used
in this calculation)		                

 
 
74,694,420
 
$
84,219,000
 
 
 
   
 
     

Fully diluted earnings per share of common stock
 
 
 
 
 
 
$
1.13
             



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