EX-11 5 0005.txt EXHIBIT (11) EXHIBIT (11) NORTHWEST NATURAL GAS COMPANY Statement Re: Computation of Per Share Earnings (Thousands, except per share amounts) (Unaudited) 12 Months Ended December 31, ------------------------------------- 2000 1999 1998 ------------------------------------- Earnings Applicable to Common Stock $ 47,768 $ 42,781 $ 24,724 Debenture Interest Less Taxes 389 415 431 ---------- ---------- --------- Net Income Available for Diluted Common Stock $ 48,157 $ 43,196 $ 25,155 ========== ========== ========= Average Common Shares Outstanding 25,183 24,976 24,233 Stock Options 13 21 41 Convertible Debentures 442 471 489 ---------- ---------- --------- Diluted Common Shares 25,638 25,468 24,763 ========== ========== ========= Diluted Earnings per Share of Common Stock $ 1.88 $ 1.70 $ 1.02 ========== ========== =========