EX-11 4 0004.txt COMP OF EARN CORP
EXHIBIT 11 PG&E CORPORATION COMPUTATION OF EARNINGS PER COMMON SHARE ----------------------------------------------------------------------------------------- Three Months Ended Six Months Ended June 30, June 30, ------------------ ----------------- (in millions, except per share amounts) 2000 1999 2000 1999 ----------------------------------------------------------------------------------------- BASIC EARNINGS PER SHARE (EPS) (1) Earnings available for common stock $ 248 $ 182 $ 528 $ 353 ======== ======== ======== ======== Average common shares outstanding 361 367 361 370 ======== ======== ======== ======== Basic EPS $ .69 $ .50 $1.46 $ .95 ======== ======== ======== ======== DILUTED EARNINGS PER SHARE (EPS) (1) Earnings available for common stock $ 248 $ 182 $ 528 $ 353 Less: assumed cash settlement of forward contract that may be settled in Company stock or cash - 10 - 29 -------- -------- -------- -------- Earnings available for common stock as adjusted 248 172 528 324 ======== ======== ======== ======== Average common shares outstanding 361 367 361 370 Add: outstanding options, reduced by the number of shares that could be repurchased with the proceeds from such exercise (at average market price) 3 2 2 1 -------- -------- -------- -------- Average common shares outstanding as adjusted 364 369 363 371 ======== ======== ======== ======== Diluted EPS $ .68 $ .47 $1.45 $ .87 ======== ======== ======== ======== ----------------------------------------------------------------------------------------- (1) This presentation is submitted in accordance with Item 601(b)(11) of Regulation S-K and Statement of Financial Accounting Standards No. 128.