Lamar Advertising (LAMR) 10-K 2014 FY Annual report

Exhibit 11(a)

LAMAR ADVERTISING COMPANY

AND SUBSIDIARIES

Earnings Per Share Computation Information

Years ended December 31, 2014, 2013 and 2012

	Year Ended December 31, 2014		Year Ended December 31, 2013		Year Ended December 31, 2012
Net income applicable to common stock	$	253,153,000	$	39,774,000	$	7,525,000
Weighted average common shares outstanding		95,218,083		94,387,230		93,379,246
Shares issuable upon exercise of stock options		66,043		358,285		287,395
Incremental shares of convertible debt		—		—		—
Weighted average common shares and common equivalents outstanding		95,284,126		94,745,515		93,666,641
Net income per common share basic and diluted	$	2.66	$	0.42	$	0.08

The above earnings per share (EPS) calculations are submitted in accordance with Statement of Financial Accounting Standards No. 128. An EPS calculation in accordance with Regulation S-K item 601 (b) (11) is not shown above for the years ended December 31, 2014, 2013 and 2012 because it produces an antidilutive result. The following information is disclosed for purposes of calculating antidilutive EPS for that period.

	Year Ended December 31, 2014		Year Ended December 31, 2013		Year Ended December 31, 2012
Net income applicable to common stock	$	253,153,000	$	39,774,000	$	7,525,000
Income impact of assumed conversions		—		—		—
Income available to common shareholders plus assumed conversion	$	253,153,000	$	39,774,000	$	7,525,000
Weighted average common shares outstanding		95,218,083		94,387,230		93,379,246
Shares issuable upon exercise of stock options		66,043		358,285		287,395
Incremental shares from convertible debt		—		—		—
Weighted average common shares plus dilutive potential common shares		95,284,126		94,745,515		93,666,641
Net income per common share	$	2.66	$	0.42	$	0.08