Enron Corp – ‘10-K’ for 12/31/96 – EX-11

As of:  Friday, 3/28/97   ·   For:  12/31/96   ·   Accession #:  72859-97-9   ·   File #:  1-03423

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Annual Report   —   Form 10-K
Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: 10-K        Enron Corp. 1996 Form 10-K                           121±   492K 
 2: EX-10.04    Second Amendment to Enron Corp. 1988 Stock Plan        1     10K 
 3: EX-10.09    Third Amendment to Enron Corp. 1988 Deferral Plan      1      9K 
 4: EX-10.10    Fourth Amendment to Enron Corp. 1988 Deferral Plan     1      9K 
 5: EX-10.11    Fifth Amendment to Enron Corp. 1988 Deferral Plan      2±    12K 
 6: EX-10.25    Employment Agreement - Enron Corp. and Kenneth L.     29±   125K 
                          Lay                                                    
 7: EX-10.34    Termination Agreement - Enron Corp. and Richard D.     8±    40K 
                          Kinder                                                 
 8: EX-10.56    Third Amendment to Enron Corp. 1994 Deferral Plan      1      9K 
 9: EX-10.57    Fourth Amendment to Enron Corp. 1994 Deferral Plan     2±    13K 
10: EX-10.58    Fifth Amendment to Enron Corp. 1994 Deferral Plan      2±    13K 
11: EX-10.59    Enron Power Corp. Employment Agreement-Thomas E.      14±    59K 
                          White                                                  
12: EX-10.60    First Amendment to Employment Agreement-Thomas E.      1      9K 
                          White                                                  
13: EX-10.61    Second Amendment Employment Agreement-Thomas E.        2±    13K 
                          White                                                  
14: EX-10.62    Third Amendment to Employment Agreement-Thomas E.      2±    13K 
                          White                                                  
15: EX-10.63    Employment Agreement Between Ect and Jeffrey K.       19±    80K 
                          Skilling                                               
16: EX-10.64    First Amendment to Employment Agreement-Jeffrey        2±    15K 
                          Skilling                                               
17: EX-11       Statement of Calculation of Earnings Per Share         1     10K 
18: EX-12       Statement of Computation of Ratios of Earnings to      1     10K 
                          Fixed Charges                                          
19: EX-21       Enron Corp. and Subsidiary Companies                  13±    53K 
20: EX-23.01    Consent of Arthur Andersen                             1     10K 
21: EX-23.02    Consent of Degolyer & Macnaughton                      1     13K 
22: EX-23.03    Letter Report of Degolyer & Macnaughton - January      3±    16K 
                          17, 1997                                               
23: EX-24       Powers of Attorney                                    14     39K 
24: EX-27       Article 5 FDS for 10-K                                 1     10K 

EX-11   —   Statement of Calculation of Earnings Per Share

                                                                [Download Table]

                                                               Exhibit 11         
                       ENRON CORP. AND SUBSIDIARIES                               
                     Calculation of Earnings Per Share                            
                                (Unaudited)                                       


                                                         Year Ended December 31,  
                                                        1996      1995      1994  
                                                           (in millions except    
                                                            per share amounts)    

                                                                                  
Primary Earnings Per Share                                                        
  Earnings on common stock                                                        
     Net income                                         $ 584     $ 520     $ 453 
     Preferred stock dividends                            (16)      (16)      (15)
                                                        $ 568     $ 504     $ 438 

  Average number of common shares outstanding             246       244       243 

  Primary earnings per share of common stock            $2.31     $2.07     $1.80 

Fully Diluted Earnings Per Share                                                  
  Adjusted earnings on common stock                                               
     Net income                                         $ 584     $ 520     $ 453 
     Preferred stock dividends                            (16)      (16)      (15)
     Add back:                                                                    
       Dividends on convertible preferred stock            16        16        15 
                                                        $ 584     $ 520     $ 453 

  Average number of common shares outstanding                                     
   on a fully diluted basis                                                       
     Average number of common shares outstanding          246       244       243 
     Additional shares issuable upon:                                             
       Conversion of preferred stock                       18        19        20 
       Exercise of stock options reduced by the number                            
        of shares which could have been purchased with                            
        the proceeds from exercise of such options          7         5         3 
                                                          271       268       266 

  Fully diluted earnings per share of common stock      $2.16     $1.94     $1.70