1
Exhibit 11
THE COLUMBIA GAS SYSTEM, INC. AND SUBSIDIARIES
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Statements Re Computation of Per Share Earnings
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Three Months Twelve Months
Ended Ended
March 31, March 31,
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1997 1996 1997 1996
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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....................... 162.7 151.3 233.0 (409.8)
Extraordinary item............................................ - - - 71.6
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Net income (loss)............................................. 162.7 151.3 233.0 (338.2)
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Earnings (Loss) per share of common stock
(based on average shares outstanding) ($)
Before extraordinary item..................................... 2.94 2.99 4.22 (8.09)
Extraordinary item............................................ - - - 1.41
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Earnings (Loss) on common stock............................... 2.94 2.99 4.22 (6.68)
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Additional computation of average common
shares outstanding (thousands) (NOTE)
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Average shares of common stock outstanding.................... 55,327 50,662 55,198 50,603
Incremental common shares applicable to
common stock based on the common stock
daily average market price:
Applicable to contingent stock awards....................... 5 60 5 -
Applicable to contingent stock options...................... 125 - 116 -
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Average common shares as adjusted............................. 55,457 50,722 55,319 50,603
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Average shares of common stock outstanding.................... 55,327 50,662 55,198 50,603
Incremental common shares applicable to
common stock based on the more dilutive
of the common stock ending or daily average
market price during the period:
Applicable to contingent stock awards....................... 5 74 5 -
Applicable to contingent stock options...................... 125 - 132 -
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Average common shares assuming full dilution ................. 55,457 50,736 55,335 50,603
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Earnings (Loss) per share of common stock
as adjusted:
Before extraordinary item..................................... 2.93 2.98 4.21 (8.09)
Extraordinary item............................................ - - - 1.41
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Earnings (Loss) on common stock as adjusted ($)............... 2.93 2.98 4.21 (6.68)
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Earnings (Loss) per common shares assuming full
dilution:
Before extraordinary item..................................... 2.93 2.98 4.21 (8.09)
Extraordinary item............................................ - - - 1.41
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Earnings (Loss) on common stock assuming full dilution ($).... 2.93 2.98 4.21 (6.68)
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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%.