EX-11.01 5 g85725exv11w01.htm EX-11.01 COMPUTATION OF EARNINGS PER SHARE EX-11.01 Computation of Earnings Per Share
 

EXHIBIT 11.01

MARTIN MARIETTA MATERIALS, INC. AND CONSOLIDATED SUBSIDIARIES

COMPUTATION OF EARNINGS PER SHARE

For the Three and Nine Months Ended September 30, 2003 and 2002
(Dollars in Thousands, Except Per Share Data)

                   
      Three Months Ended
      September 30
     
      2003   2002
     
 
Earnings from continuing operations
   $ 45,540     $ 38,811  
(Loss) earnings on discontinued operations
     (20 )     114  
 
    
     
 
Net earnings
   $ 45,520     $ 38,925  
 
    
     
 
Weighted average number of common shares outstanding:
                
 
Basic
     48,922,858       48,820,079  
 
Effect of dilutive securities
     266,870       135,180  
 
    
     
 
 
Diluted
     49,189,728       48,955,259  
 
    
     
 
Net earnings per common share:
                
 
Basic from continuing operations
   $ 0.93     $ 0.80  
 
Discontinued operations
     —       —  
 
    
     
 
 
   $ 0.93     $ 0.80  
 
    
     
 
 
Diluted from continuing operations
   $ 0.93     $ 0.80  
 
Discontinued operations
     —       —  
 
    
     
 
 
   $ 0.93     $ 0.80  
 
    
     
 

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EXHIBIT 11.01

MARTIN MARIETTA MATERIALS, INC. AND CONSOLIDATED SUBSIDIARIES

COMPUTATION OF EARNINGS PER SHARE

For the Three and Nine Months Ended September 30, 2003 and 2002
(Dollars in Thousands, Except Per Share Data)

                   
      Nine Months Ended
      September 30
     
      2003   2002
     
 
              (Restated)
Earnings from continuing operations before the cumulative effect of change in accounting principle
   $ 71,981     $ 73,329  
(Loss) earnings on discontinued operations
     (829 )     8,409  
Cumulative effect of change in accounting for asset retirement obligations
     (6,874 )     —  
Cumulative effect of change in accounting for intangible assets
     —       (11,510 )
 
    
     
 
Net earnings
   $ 64,278     $ 70,228  
 
    
     
 
Weighted average number of common shares outstanding:
                
 
Basic
     48,906,598       48,692,654  
 
Effect of dilutive securities
     213,354       149,905  
 
    
     
 
 
Diluted
     49,119,952       48,842,559  
 
    
     
 
Net earnings per common share:
                
 
Basic from continuing operations before cumulative effect of change in accounting principle
   $ 1.47     $ 1.51  
 
Discontinued operations
     (0.02 )     0.17  
 
Cumulative effect of change in accounting principle
     (0.14 )     (0.23 )
 
    
     
 
 
   $ 1.31     $ 1.45  
 
    
     
 
 
Diluted from continuing operations before cumulative effect of change in accounting principle
   $ 1.47     $ 1.50  
 
Discontinued operations
     (0.02 )     0.17  
 
Cumulative effect of change in accounting principle
     (0.14 )     (0.23 )
 
    
     
 
 
   $ 1.31     $ 1.44  
 
    
     
 

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