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EXHIBIT 11
EL PASO NATURAL GAS COMPANY
EARNINGS PER COMMON SHARE
Form 10-Q
(In Thousands, except earnings per share)
Third Quarter Nine Months
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1997 1996 1997 1996
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Income available for common stock dividends $44,171 $24,807 $134,666 $13,984
Primary average common shares outstanding 58,907 36,319 58,285 35,667
Primary earnings per share $0.7498 $0.6830 $2.3105 $0.3921
Fully diluted average common shares
outstanding 59,068 37,306 58,473 36,603
Fully diluted earnings per common share $0.7478 $0.6650 $2.3030 $0.3820