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Exhibit 11
THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
Statements Re Computation of Per Share Earnings
Three Months Twelve Months
Ended Ended
March 31, March 31,
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1996 1995 1996 1995
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Computation for Statements of Consolidated
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Income ($ in millions)
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Income (Loss) before extraordinary item . . . . . . . . . . . . . 151.3 128.8 (409.8) 234.8
Extraordinary item . . . . . . . . . . . . . . . . . . . . . . . - - 71.6 -
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Net income (loss) . . . . . . . . . . . . . . . . . . . . . . . . 151.3 128.8 (338.2) 234.8
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Earnings (Loss) per share of common stock
(based on average shares outstanding) ($)
Before extraordinary item . . . . . . . . . . . . . . . . . . . . 2.99 2.55 (8.09) 4.64
Extraordinary item . . . . . . . . . . . . . . . . . . . . . . . - - 1.41 -
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Earnings (Loss) on common stock . . . . . . . . . . . . . . . . . 2.99 2.55 (6.68) 4.64
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Additional computation of average common
shares outstanding (thousands) (NOTE)
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Average shares of common stock outstanding . . . . . . . . . . . 50,662 50,563 50,603 50,561
Incremental common shares applicable to
common stock based on the common stock
daily average market price:
Applicable to contingent stock awards . . . . . . . . . . . . . 60 - - 2
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Average common shares as adjusted . . . . . . . . . . . . . . . . 50,722 50,563 50,603 50,563
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Average shares of common stock outstanding . . . . . . . . . . . 50,662 50,563 50,603 50,561
Incremental common shares applicable to
common stock based on the more dilutive
of the common stock ending or daily average
market price during the year:
Applicable to contingent stock awards . . . . . . . . . . . . . 74 - - 2
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Average common shares assuming full dilution . . . . . . . . . . 50,736 50,563 50,603 50,563
Earnings (Loss) per share of common stock
as adjusted:
Before extraordinary item . . . . . . . . . . . . . . . . . . . . 2.98 2.55 (8.09) 4.64
Extraordinary item . . . . . . . . . . . . . . . . . . . . . . . - - 1.41 -
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Earnings (Loss) on common stock as adjusted ($) . . . . . . . . . 2.98 2.55 (6.68) 4.64
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Earnings (Loss) per common shares assuming full
dilution:
Before extraordinary item . . . . . . . . . . . . . . . . . . . . 2.98 2.55 (8.09) 4.64
Extraordinary item . . . . . . . . . . . . . . . . . . . . . . . - - 1.41 -
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Earnings (Loss) on common stock assuming full dilution ($) . . . 2.98 2.55 (6.68) 4.64
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NOTE These calculations 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%.