Exhibit 11
ALBEMARLE CORPORATION
COMPUTATION OF PRO FORMA EARNINGS PER SHARE
for the years ended December 31, 2001 and 2000
(In thousands except per share amounts)
Pro Forma Pro Forma
2001 2000
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BASIC EARNINGS PER SHARE
Numerator:
Net income after effect of
applying SFAS No. 123
"Accounting for Stock Based
Compensation" $66,524 $100,437
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Denominator:
Average number of shares of
common stock outstanding 45,766 45,882
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Basic earnings per share $1.45 $2.19
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DILUTED EARNINGS PER SHARE
Numerator:
Net income after effect of
applying SFAS No. 123
"Accounting for Stock Based
Compensation" $66,524 $100,437
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Denominator:
Average number of shares of
common stock outstanding 45,766 45,882
Shares issuable upon the assumed
exercise of outstanding stock
options and other common stock
equivalents 758 724
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Total pro forma shares 46,524 46,606
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Diluted earnings per share $1.43 $2.16
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