1
UGI CORPORATION AND SUBSIDIARIES Exhibit (11)
(Page 1 of 2)
COMPUTATION OF EARNINGS PER SHARE
(Millions, Except Per Share Amounts)
Three Months Ended Six Months Ended Twelve Months Ended
March 31, March 31, March 31,
------------------- ------------------- -------------------
1997 1996 1997 1996 1997 1996
-------- -------- -------- -------- -------- --------
Primary earnings per share:
Actual average common shares outstanding 33.1 33.0 33.1 33.0 33.1 32.9
Incremental shares issuable upon
exercise of stock options outstanding 0.2 0.1 0.1 0.1 0.1 0.1
-------- -------- -------- -------- -------- --------
Total average common and common
equivalent shares outstanding 33.3 33.1 33.2 33.1 33.2 33.0
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Earnings applicable to common and common equivalent shares:
Earnings before extraordinary loss $ 35.8 $ 37.6 $ 63.7 $ 55.8 $ 47.4 $ 25.7
Extraordinary loss - propane debt restructuring -- -- -- -- -- (13.2)
-------- -------- -------- -------- -------- --------
Net earnings $ 35.8 $ 37.6 $ 63.7 $ 55.8 $ 47.4 $ 12.5
======== ======== ======== ======== ======== ========
Primary earnings per common and common equivalent share:
Earnings before extraordinary loss $ 1.08 $ 1.13 $ 1.92 $ 1.69 $ 1.43 $ 0.78
Extraordinary loss - propane debt restructuring -- -- -- -- -- (0.40)
-------- -------- -------- -------- -------- --------
Net earnings $ 1.08 $ 1.13 $ 1.92 $ 1.69 $ 1.43 $ 0.38
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2
UGI CORPORATION AND SUBSIDIARIES Exhibit (11)
(Page 2 of 2)
COMPUTATION OF EARNINGS PER SHARE
(Millions, Except Per Share Amounts)
Three Months Ended Six Months Ended Twelve Months Ended
March 31, March 31, March 31,
------------------- ------------------- -------------------
1997 1996 1997 1996 1997 1996
-------- -------- -------- -------- -------- --------
Fully diluted earnings per share:
Actual average common shares outstanding 33.1 33.0 33.1 33.0 33.1 32.9
Incremental shares issuable upon
exercise of stock options outstanding 0.2 0.1 0.2 0.1 0.2 0.1
-------- -------- -------- -------- -------- --------
Total shares for fully diluted computation 33.3 33.1 33.3 33.1 33.3 33.0
======== ======== ======== ======== ======== ========
Earnings applicable to common stock:
Earnings before extraordinary loss $ 35.8 $ 37.6 $ 63.7 $ 55.8 $ 47.4 $ 25.7
Extraordinary loss - propane debt restructuring -- -- -- -- -- (13.2)
-------- -------- -------- -------- -------- --------
Net earnings $ 35.8 $ 37.6 $ 63.7 $ 55.8 $ 47.4 $ 12.5
======== ======== ======== ======== ======== ========
Fully diluted earnings per common share:
Earnings before extraordinary loss $ 1.08 $ 1.13 $ 1.91 $ 1.69 $ 1.43 $ 0.78
Extraordinary loss - propane debt restructuring -- -- -- -- -- (0.40)
-------- -------- -------- -------- -------- --------
Net earnings $ 1.08 $ 1.13 $ 1.91 $ 1.69 $ 1.43 $ 0.38
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