TSE:FTS At December 31, 2001, 2,363,169 common shares remained in the reser ve for issue under the terms of the above plans. The Corporation is authorized to grant directors of Fortis Inc. and certain key employees of Fortis Inc. and its subsidiaries options to purchase common shares of the Corporation. The Corporation calculates earnings per Common Share on the weighted average number of Common Shares outstanding of 14,877,876 and 13,517,236 in 2001 and 2000, respectively Fully diluted earnings per Common Share are calculated using the treasury method.  Earnings per Common Share before and after discontinued operations (Note 15) are as follows: 51 FORTIS Inc. 2OO1 Annual Report Earnings per share Stock Options Number of Options: 2001 2000 Outstanding at beginning of year 353,743 220,363 Granted 180,639 149,036 Exercised (79,369) (15,656) Cancelled (18,165) - 436,848 353,743 Range of Exercise Prices: Granted $ 38.27 $ 29.15 Exercised $27.49 - 36.83 $ 24.60 - 27.49  Outstanding at end of year $29.15 - 45.67 $ 27.49 - 45.67 Details of stock options outstanding are as follows: Number Exercise Expiry of Shares Price Date 6,800 $33.10 2002 49,709 $45.67 2003 35,000 $45.12 2003 66,230 $36.83 2004 98,470 $29.15 2005 35,000 $38.27 2006 145,639 $38.27 2011 436,848 Earnings per Common Share 2001 2000 Basic Before discontinued operations $ 3.54 $ 2.68 After discontinued operations $ 3.59 $ 2.72 Fully diluted Before discontinued operations $ 3.53 $ 2.68 After discontinued operations $ 3.58 $ 2.72 10. Interest and Amortization 2001 (in thousands) 2000 Amortization of debt and stock issue expenses $ 231 $ 233 Interest - long-term debt 63,010 52,438 - other 2,550 1,809 Interest charged to construction (2,026) (490) Interest earned (1,110) (1,253) $ 62,655 $ 52,737