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Exhibit 11
THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Statements Re Computation of Per Share Earnings
Year Ended December 31,
1995 1994 1993
---- ---- ----
Computation for Statements of Consolidated
- ------------------------------------------
Income ($ in millions)
- ----------------------
Income (Loss) before extraordinary item and
cumulative effect of accounting change . . . . . . . . . . . . (432.3) 246.2 152.2
Extraordinary item . . . . . . . . . . . . . . . . . . . . . . . . 71.6 - -
Change in accounting for postemployment benefits . . . . . . . . . - (5.6) -
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Net income (loss) . . . . . . . . . . . . . . . . . . . . . . . . . (360.7) 240.6 152.2
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Earnings (Loss) per share of common stock (based
on average shares outstanding) ($)
Before extraordinary item and accounting change . . . . . . . . . . (8.57) 4.87 3.01
Extraordinary item . . . . . . . . . . . . . . . . . . . . . . . . 1.42 - -
Change in accounting for postemployment benefits . . . . . . . . . - (0.11) -
- ----------------------------------------------------------------------------------------------------------------
Earnings (Loss) on common stock . . . . . . . . . . . . . . . . . (7.15) 4.76 3.01
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Additional computation of average common
shares outstanding (thousands) NOTE
- ----------------------------------------------------------------------------------------------------------------
Average shares of common stock outstanding . . . . . . . . . . . . 50,468 50,560 50,559
Incremental common shares applicable to
common stock based on the common stock
daily average market price:
Applicable to contingent stock awards . . . . . . . . . . . . . . - 3 4
- ----------------------------------------------------------------------------------------------------------------
Average common shares as adjusted . . . . . . . . . . . . . . . . . 50,468 50,563 50,563
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Average shares of common stock outstanding . . . . . . . . . . . . 50,468 50,560 50,559
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 contingent stock awards . . . . . . . . . . . . . . - 3 4
- ----------------------------------------------------------------------------------------------------------------
Average common shares assuming full dilution . . . . . . . . . . . 50,468 50,563 50,563
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Earnings (Loss) per share of common stock
as adjusted:
Before extraordinary item and accounting change . . . . . . . . . (8.57) 4.87 3.01
Extraordinary item . . . . . . . . . . . . . . . . . . . . . . . . 1.42 - -
Change in accounting for postemployment benefits . . . . . . . . . - (0.11) -
- ----------------------------------------------------------------------------------------------------------------
Earnings (Loss) on common stock as adjusted ($) . . . . . . . . . . (7.15) 4.76 3.01
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Earnings (Loss) per common shares assuming full
dilution:
Before extraordinary item and accounting change . . . . . . . . . . (8.57) 4.87 3.01
Extraordinary item . . . . . . . . . . . . . . . . . . . . . . . . 1.42 -
Change in accounting for postemployment benefits . . . . . . . . . - (0.11) -
- ----------------------------------------------------------------------------------------------------------------
Earnings (Loss) on common stock assuming full
dilution ($) . . . . . . . . . . . . . . . . . . . . . . . . . . (7.15) 4.76 3.01
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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%.