EXHIBIT 11 WASHINGTON GAS LIGHT COMPANY AND SUBSIDIARIES Computation of Earning per Average Share of Common Stock Assuming Full Dilution from Conversion of the $4.60 and $4.36 Convertible Preferred Series (Unaudited) Three Months Ended Dec. 31, Dec. 31, 1996 1995 -------- -------- (Thousands, Except Per Share Data) EARNINGS PER AVERAGE SHARE ASSUMING FULL DILUTION Net Income $ 37,424 $ 38,340 Dividends on preferred stock (excluding dividends on convertible preferred stock) 330 330 -------- -------- Net income applicable to common stock $ 37,094 $ 38,010 ======== ======== Average common shares outstanding on a fully diluted basis assuming conversion of the outstanding shares of the $4.60 and $4.36 convertible preferred stock on October 1 of each year based on the applicable conversion price 43,739 43,082 ======== ======== Earnings per average share of common stock assuming full dilution $ .85 $ .88 ======== ======== Note:These calculations are submitted in accordance with Securities Exchange Act of 1934 Release No. 9083 although not required by footnote 2 to paragraph 14 of Accounting Principles Board Opinion No. 15 because no dilution results.