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Exhibit 11
THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Statements Re Computation of Per Share Earnings
Year Ended December 31,
1993 1992 1991
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Computation for Statements of Consolidated
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Income ($ in millions)
- ----------------------
Income (loss) before extraordinary item and
cumulative effect of accounting changes . . . . . . . . . . . . 152.2 90.9 (794.8)
Extraordinary item . . . . . . . . . . . . . . . . . . . . . . . . - (39.7) -
Change in accounting for income taxes . . . . . . . . . . . . . . . - - 170.0
Change in accounting for postretirement benefits . . . . . . . . . - - (69.6)
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Net income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . 152.2 51.2 (694.4)
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Earnings (loss) per share of common stock (based
on average shares outstanding) ($)
Before extraordinary item and accounting changes . . . . . . . . . 3.01 1.79 (15.72)
Extraordinary item . . . . . . . . . . . . . . . . . . . . . . . . - (.78) -
Change in accounting for income taxes . . . . . . . . . . . . . . . - - 3.36
Change in accounting for postretirement benefits . . . . . . . . . - - (1.38)
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Earnings (loss) on common stock . . . . . . . . . . . . . . . . . 3.01 1.01 (13.74)
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Additional computation of average common
shares outstanding (thousands) NOTE
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Average shares of common stock outstanding . . . . . . . . . . . . 50,559 50,559 50,537
Incremental common shares applicable to
common stock based on the common stock
daily average market price:
Applicable to common stock options . . . . . . . . . . . . . . . - - -
Applicable to contingent stock awards . . . . . . . . . . . . . . 4 4 -
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Average common shares as adjusted . . . . . . . . . . . . . . . . . 50,563 50,563 50,537
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Average shares of common stock outstanding . . . . . . . . . . . . 50,559 50,559 50,537
Incremental common shares applicable to
common stock based on the more dilutive
of the common stock ending or daily average
market price during the year:
Applicable to common stock options . . . . . . . . . . . . . . . - - -
Applicable to contingent stock awards . . . . . . . . . . . . . . 4 4 -
- ----------------------------------------------------------------------------------------------------------------
Average common shares assuming full dilution . . . . . . . . . . . 50,563 50,563 50,537
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Earnings (loss) per share of common stock
as adjusted:
Before extraordinary item and accounting changes . . . . . . . . . 3.01 1.79 (15.72)
Extraordinary item . . . . . . . . . . . . . . . . . . . . . . . . - (.78) -
Change in accounting for income taxes . . . . . . . . . . . . . . . - - 3.36
Change in accounting for postretirement benefits . . . . . . . . . - - (1.38)
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Average common shares as adjusted ($) . . . . . . . . . . . . . . . 3.01 1.01 (13.74)
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Earnings (loss) per common shares assuming full
dilution:
Before extraordinary item and accounting changes . . . . . . . . . 3.01 1.79 (15.72)
Extraordinary item . . . . . . . . . . . . . . . . . . . . . . . . - (.78) -
Change in accounting for income taxes . . . . . . . . . . . . . . . - - 3.36
Change in accounting for postretirement benefits . . . . . . . . . - - (1.38)
- ----------------------------------------------------------------------------------------------------------------
Average common shares assuming full dilution ($) . . . . . . . . . 3.01 1.01 (13.74)
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NOTE These caculations are submitted in accordance with the Securities
Exchange Act of 1934 Release No. 9083 although not required by
footnote 2 to paragraph 14 of Accounting Principles Opinion No. 15
because they result in dilution of less than 3%.