EX-11 3 a2093395zex-11.htm EXHIBIT 11
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EXHIBIT 11

AIRGAS, INC.
EARNINGS PER SHARE CALCULATIONS

 
   Three Months Ended
September 30,
   Six Months Ended
September 30,
  
(In thousands, except per share amounts)
  
  2002
   2001
   2002
   2001
  

Weighted Average Shares Outstanding:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Basic shares outstanding
 
 
70,400
 
 
67,900
 
 
70,100
 
 
67,600
 
 
Stock options and warrants—incremental shares
 
 
1,500
 
 
1,600
 
 
1,900
 
 
1,300
 
   
 
 
 
 
 
Diluted shares outstanding
 
 
71,900
 
 
69,500
 
 
72,000
 
 
68,900
 
   
 
 
 
 

Net earnings (loss)
 
$
19,200
 
$
14,553
 
$
33,244
 
$
(30,996
)
   
 
 
 
 

Basic earnings per share
 
$
.27
 
$
.21
 
$
.47
 
$
(.46
)
   
 
 
 
 

Diluted earnings per share
 
$
.27
 
$
.21
 
$
.46
 
$
(.45
)
   
 
 
 
 


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