EX-99 10 ex99.htm EXHIBIT 99 PAGE 3

                                                         Exhibit 99


CONSOLIDATED NATURAL GAS COMPANY
CONDENSED CONSOLIDATED EARNINGS STATEMENTS
(Unaudited)

 

 

Nine Months
Ended
September 30, 2003

Three Months
Ended
December 31, 2002

 

(Millions)

Operating Revenue

$3,833 

$1,230

 

 

 

Operating Expenses

  2,989 

     861

 

 

 

Income from operations

844 

369

 

 

 

Other income (loss)

7

 

 

 

Interest and related charges

     115 

       40

 

 

 

Income before income taxes

731 

336

 

 

 

Income taxes

     261 

     116

Income before cumulative effect of a change in
   accounting principle


470 


220

Cumulative effect of a change in accounting principle
   (net of income taxes of $3)


       (5)


     -  

 

 

 

Net income

$   465 

$   220

The condensed consolidated earnings statement for the nine months ended September 30, 2003 reflects the adoption of a new accounting standard, effective January 1, 2003, Statement of Financial Accounting Standards No. 143, Accounting for Asset Retirement Obligations. The condensed consolidated earnings statement for the three months ended December 31, 2002, which was prepared under different accounting policies regarding the accounting matters covered by the aforementioned new standard, may not be combined with the condensed consolidated earnings statement for the nine months ended September 30, 2003, under generally accepted accounting principles.