The Timken Company (TKR) 10-Q 2006 Q2 Quarterly report

Exhibit 11 — COMPUTATION OF PER SHARE EARNINGS
(Dollars in thousands, except per share data)

	Three Months Ended June 30,				Six Months Ended June 30,
	2006		2005		2006		2005
BASIC
Average shares outstanding		93,261,154		91,189,208		93,117,090		90,981,208
Net Income	$	74,691	$	67,334	$	140,631	$	125,569
Per share amount	$	0.80	$	0.74	$	1.51	$	1.38
DILUTED
Average shares outstanding		93,261,154		91,189,208		93,117,090		90,981,208
Effect of dilutive securities based on the treasury stock method using the average market price if higher than the exercise price		1,052,516		628,167		1,060,459		847,297
		94,313,670		91,817,375		94,177,549		91,828,505
Net income	$	74,691	$	67,334	$	140,631	$	125,569
Per share amount	$	0.79	$	0.73	$	1.49	$	1.37

The antidilutive stock options outstanding were 531,000 and 3,432,297 at June 30, 2006 and 2005, respectively.