EX-11.1 2 a05-21762_1ex11d1.htm STATEMENT REGARDING COMPUTATION OF PER SHARE EARNINGS

Exhibit 11.1

 

WESTERN GAS RESOURCES, INC.

COMPUTATION OF PER SHARE EARNINGS

DECEMBER 31, 2004

 

 

 

Weighted

 

 

 

 

 

 

 

Average

 

 

 

 

 

 

 

Shares Of

 

 

 

Earnings

 

 

 

Common

 

 

 

Per Share

 

 

 

Stock

 

Net

 

Of Common

 

 

 

Outstanding

 

Income

 

Stock

 

 

 

 

 

 

 

 

 

Net income (Restated)

 

 

 

$

127,759,000

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares of common stock outstanding

 

72,419,980

 

 

 

 

 

 

 

 

 

 

 

 

 

Less preferred stock dividends:

 

 

 

 

 

 

 

Special dividend on redemption of $2.625 cumulative convertible preferred stock

 

 

 

(46,423

)

 

 

$ 2.625 cumulative convertible preferred stock

 

 

 

(788,902

)

 

 

 

 

 

 

 

 

 

 

 

 

72,419,980

 

$

126,923,675

 

 

 

 

 

 

 

 

 

 

 

Basic earnings per share of common stock (Restated)

 

 

 

 

 

$

1.75

 

 

 

 

 

 

 

 

 

Assume exercise of common stock equivalents

 

1,074,767

 

—

 

 

 

(Anti-dilutive common stock equivalents are not used in this calculation)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

73,494,747

 

$

126,923,675

 

 

 

 

 

 

 

 

 

 

 

Fully diluted earnings per share of common stock (Restated)

 

 

 

 

 

$

1.73