EX-99 7 cngex99.htm CNG EXHIBIT 99 PAGE 3

Exhibit 99


CONSOLIDATED NATURAL GAS COMPANY

CONDENSED CONSOLIDATED EARNINGS STATEMENT
(Unaudited)

 

 

Twelve Months
Ended
September 30, 2004

 

(millions)

Operating Revenue

$6,107 

Operating Expenses

  4,735 

Income from operations

1,372 

Other income

Interest and related charges

     163 

Income before income taxes

1,218 

Income taxes

     446 

Income before cumulative effect of a change in
     accounting principle


772 

Cumulative effect of a change in accounting principle
     (net of income taxes of $5)


       (6)

Net income

$   766 

The condensed consolidated earnings statement for the twelve months ended September 30, 2004 reflects the adoption of a new accounting standard, effective December 31, 2003, FASB Interpretation No. 46 (revised December 2003), Consolidation of Variable Interest Entities, for its interests in special purpose entities.