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EXHIBIT 11
AIRGAS, INC.
EARNINGS PER SHARE CALCULATIONS
Three Months Ended | Six Months Ended | ||||||||||||||||
September 30, | September 30, | ||||||||||||||||
(In thousands, except per share amounts) | 2003 | 2002 | 2003 | 2002 | |||||||||||||
Weighted Average Shares Outstanding: | |||||||||||||||||
Basic shares outstanding | 72,600 | 70,400 | 72,200 | 70,100 | |||||||||||||
Stock options and warrants – incremental shares | 1,800 | 1,500 | 1,900 | 1,900 | |||||||||||||
Diluted shares outstanding | 74,400 | 71,900 | 74,100 | 72,000 | |||||||||||||
Net earnings | $ | 19,113 | $ | 19,200 | $ | 37,641 | $ | 33,244 | |||||||||
Basic earnings per share | $ | .26 | $ | .27 | $ | .52 | $ | .47 | |||||||||
Diluted earnings per share | $ | .26 | $ | .27 | $ | .51 | $ | .46 | |||||||||