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Content analysis
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8th grade Avg
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- 10-K Annual report
- 10 Northwest Natural Gas Company Supplemental Trust
- 10 Umbrella Trust for Directors
- 10 Umbrella Trust for Executives
- 10 Summary,waiver of Forfeiture Prvsns-non-employ. Dir. STCK Comp. Plan, Deceased
- 10 Summary of 2005 Compensation for Named Executive Officers.
- 11 Statement Re Computation of Per Share Earnings.
- 12 Statement Re Computation of Ratios of Earnings to Fixed Charges.
- 23 Consent of Pricewaterhousecoopers LLP.
- 31.1 Certification of Principal Executive Officer
- 31.2 Certification of Principal Financial Officer
- 32.1 Certification of Principal Executive Officer and Principal Financial Officer
EXHIBIT 11
NORTHWEST NATURAL GAS COMPANY
Statement Re: Computation of Per Share Earnings
(Thousands, except per share amounts)
(Unaudited)
12 Months Ended December 31, | |||||||||
2004 | 2003 | 2002 | |||||||
Net income | $ | 50,572 | $ | 45,983 | $ | 43,792 | |||
Redeemable preferred and preference stock dividend requirements | — | 294 | 2,280 | ||||||
Earnings applicable to common stock – basic | 50,572 | 45,689 | 41,512 | ||||||
Debenture interest less taxes | 200 | 257 | 285 | ||||||
Earnings applicable to common stock – diluted | $ | 50,772 | $ | 45,946 | $ | 41,797 | |||
Average common shares outstanding – basic | 27,016 | 25,741 | 25,431 | ||||||
Stock options | 40 | 28 | 59 | ||||||
Convertible debentures | 227 | 292 | 324 | ||||||
Average common shares outstanding – diluted | 27,283 | 26,061 | 25,814 | ||||||
Earnings per share of common stock - basic | $ | 1.87 | $ | 1.77 | $ | 1.63 | |||
Earnings per share of common stock – diluted | $ | 1.86 | $ | 1.76 | $ | 1.62 | |||
For the years ended Dec. 31, 2004, 2003 and 2002, 201,800 shares, 77,500 shares and 84,000 shares, respectively, representing the number of stock options the exercise prices for which were greater than the average market prices for such years, were excluded from the calculation of diluted earnings per share because the effect was antidilutive.