EX-1
                                  Exhibit 11
                        AIRGAS, INC. AND SUBSIDIARIES
                       EARNINGS PER SHARE CALCULATIONS
              For the Years Ended March 31, 1995, 1994 and 1993




                                          Years Ended March 31,
                                  ____________________________________________
                                    1995       1994
                                   Primary/   Primary/               1993
                                    Fully      Fully       1993      Fully
                                   Diluted    Diluted     Primary    Diluted
                                   _______    _______     _______    _______

                                                         
Adjustments of Shares Outstanding
_________________________________

Shares of common stock 
outstanding-weighted            31,073,964  30,674,073  26,203,678  26,203,678

Net common stock equivalents     1,688,460   1,715,711   4,682,582   5,812,340
                                __________  __________  __________  __________

Adjusted shares outstanding     32,762,424  32,389,784  30,886,260  32,016,018
                                ==========  ==========  ==========  ==========

Actual Net Earnings
___________________

Actual net earnings            $31,479,000 $20,290,000 $12,469,000 $12,469,000 
                               ==========  ==========  ==========  ==========

Net Earnings Per Share         $       .96 $       .63 $       .40 $       .39
                                ==========  ==========  ==========  ==========


Primary and fully diluted earnings per share amounts for 1995, 1994 and 1993
were determined using the treasury stock method.



















</TEXT>             
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-21
<SEQUENCE>3
<DESCRIPTION>SUBSIDIARIES OF THE REGISTRANT
<TEXT>


 EX-2
                                  Exhibit 21
                        AIRGAS, INC. AND SUBSIDIARIES

Airgas, Inc. (Parent)
Airgas Breathing Air Systems, Inc.
Airgas Canada, Inc.
Airgas Holdings, Inc.
Airgas Holdings Canada Limited
Airgas Houston
Airgas International, Inc.
Airgas Management, Inc.
Airgas New England Real Estate, Inc.
Airgas Ontario, Inc.
Airgas Realty, Inc.
American Carbide and Carbon Corporation (d/b/a Midwest Carbide)
Bay Airgas, Inc.
Cascade Airgas, Inc.
Cryodyne Technologies, Inc.
Cylinder Leasing Corp.
Empire Airgas, Inc.
Florida Airgas,Inc.
Great Lakes Airgas, Inc.
Great Western Airgas, Inc.
Gulf States Airgas, Inc.
Keystone Airgas, Inc.
Lone Star Airgas, Inc.
Maritius Industrial Gases, Inc.
Michigan Airgas, Inc.
Mid America Airgas, Inc.
Mid America Airgas Holdings
Midwest Airgas, Inc.
Mountain Airgas, Inc.
Nitrous Oxide Corp.
Northeast Airgas, Inc.
Northern Gases, Inc.
Pacific Airgas, Inc.
G.S. Parsons Company
Post Airgas, Inc.
Potomac Airgas, Inc.
Sierra Airgas, Inc.
Sooner Airgas, Inc.
Southeast Airgas, Inc.
Southern California Airgas, Inc.
Specialty Products and Equipment, Inc.
Trinity Airgas
U.S. Airgas, Inc.
Westwind Company
Virginia Welding Supply
Airgas Polska SP.ZO.O.
Poligaz, S.A.