EX-1
                                  Exhibit 11
                        AIRGAS, INC. AND SUBSIDIARIES
                       EARNINGS PER SHARE CALCULATIONS
              For the Years Ended March 31, 1996, 1995 and 1994




                                          Years Ended March 31,
                                  ____________________________________________
                                    1996          1995         1994
                                   Primary/       Primary/     Primary/     
                                    Fully         Fully        Fully      
                                   Diluted        Diluted      Diluted     
                                   _______        _______      _______   
                                                             
Adjustments of Shares Outstanding
_________________________________

Shares of common stock 
outstanding-weighted            62,819,908      62,147,928    61,348,146

Net common stock equivalents     3,394,640       3,376,920     3,431,422  
                                __________      __________    __________

Adjusted shares outstanding     66,214,548      65,524,848    64,779,568 
                                ==========      ==========    ==========

Actual Net Earnings
___________________

Actual net earnings            $39,720,000     $31,479,000   $20,290,000       
                                ==========      ==========    ==========

Net Earnings Per Share         $       .60     $       .48   $       .31 
                                ==========      ==========    ==========



Earnings per share amounts for 1996, 1995 and 1994 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 Canada Limited
Airgas Houston
Airgas International, Inc.
Airgas Management, Inc.
Airgas New England Real Estate, Inc.
Airgas Ontario, Inc.
Airgas Realty, Inc.
Airgas Safety, Inc.
Airgas Texas, Inc. (d/b/a WECO)
American Carbide and Carbon Corporation (d/b/a Midwest Carbide)
Bay Airgas, Inc.
Cascade Airgas, Inc.
Connecticut Airgas, Inc.
Cryodyne Technologies, Inc.
Cylinder Leasing Corp.
Delta Airgas, Inc.
Empire Airgas, Inc.
Florida Airgas,Inc.
Gateway 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.
Bhoruka Gases, Limited
Michigan Airgas, Inc.
ATNL, Inc.
Mid America Airgas, Inc.
Mid America Airgas Holdings
Midwest Airgas, Inc. (includes Central States and
                      Midstates Airgas reporting entities)
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.
Red-D-Arc Limited
Red-D-Arc, Inc.
Sierra Airgas, Inc.
Sooner Airgas, Inc.
Southeast Airgas, Inc.
Southern California Airgas, Inc.
Specialty Products and Equipment, Inc.
Trinity Airgas, Inc.
TriStates Airgas, Inc. (d/b/a Randall-Graw)
U.S. Airgas, Inc.
Westwind Company
Virginia Welding Supply
Airgas Polska, SP.ZO.O.
Poligaz, S.A.