Pro Forma Earnings Per Share-1997 and 1996
37
Exhibit 11.1
ALBEMARLE CORPORATION
COMPUTATION OF PRO FORMA EARNINGS PER SHARE
for the years ended December 31, 1997 and 1996
(In thousands except per share amounts)
Pro Forma Pro Forma
1997 1996
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BASIC EARNINGS PER SHARE
Numerator:
- ---------
Net income after effect of
applying SFAS No. 123
"Accounting for Stock Based
Compensation" $79,394 $155,863
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Denominator:
- -----------
Average number of shares of
common stock outstanding 55,164 58,353
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Basic earnings per share $1.44 $2.67
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DILUTED EARNINGS PER SHARE
Numerator:
- ---------
Net income after effect of
applying SFAS No. 123
"Accounting for Stock-Based
Compensation" $79,394 $155,863
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Denominator:
- -----------
Average number of shares of
common stock outstanding 55,164 58,353
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Shares issuable upon the assumed
exercise of outstanding stock
options 504 489
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Total shares 55,668 58,842
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Diluted earnings per share $1.43 $2.65
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