Exhibit 11
ALBEMARLE CORPORATION
COMPUTATION OF EARNINGS PER SHARE - HISTORICAL
for the years ended December 31, 1996, 1995 and 1994 (1)
(In thousands except per share amounts)
Historical Historical Pro Forma
1996 1995 1994 (1)
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Net income $156,059 $78,230 $50,304
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Average number of shares of common stock outstanding 58,353 66,069 63,596
Shares issuable upon the assumed exercise of outstanding
stock options 489 283 208
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Shares of common stock and common stock equivalents 58,842 66,352 63,804
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Earnings per share (2) $ 2.65 $ 1.18 $ .79
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Notes:
(1) Earnings per share is computed as if the Company's common stock distributed
to Ethyl shareholders had been outstanding for the entire periods presented
and also includes common stock equivalents based on outstanding stock
options.
(2) Primary earnings per share and fully-diluted earnings per share are the
same amounts and are computed based on net income.
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