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Previous: SELECTIVE INSURANCE GROUP INC, 10-Q, EX-10.28, 2000-08-14 |
Next: SELECTIVE INSURANCE GROUP INC, 10-Q, EX-27, 2000-08-14 |
<PAGE> 1
EXHIBIT 11
SELECTIVE INSURANCE GROUP, INC. AND CONSOLIDATED SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
SIX-MONTHS ENDED JUNE 30, 2000 AND 1999
==============================================================================
<TABLE>
<CAPTION>
Income Shares Per Share
($ in thousands, except per share amounts) (Numerator) (Denominator) Amount
-------------------------------------------------------------------------------------------
<S> <C> <C> <C>
2000
----
BASIC EPS:
Net Income available to
common stockholders 14,016 25,273 0.55
=====
EFFECT OF DILUTIVE SECURITIES
Restricted stock -- 754
8.75% convertible
subordinated debentures 141 742
Stock options 20 184
------- --------
DILUTED EPS
Income available to common
stockholders and assumed conversions 14,177 26,953 0.53
======= ======== =====
1999
----
BASIC EPS:
Net Income available to
common stockholders 41,638 27,905 1.49
=====
EFFECT OF DILUTIVE SECURITIES
Restricted stock -- 249
8.75% convertible
subordinated debentures 178 875
Stock options (43) 251
------- --------
DILUTED EPS
Income available to common
stockholders and assumed conversions 14,773 29,280 1.43
======= ======== =====
</TABLE>
19
<PAGE> 2
EXHIBIT 11
SELECTIVE INSURANCE GROUP, INC. AND CONSOLIDATED SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
QUARTER ENDED JUNE 30, 2000 AND 1999
==============================================================================
<TABLE>
<CAPTION>
Income Shares Per Share
($ in thousands, except per share amounts) (Numerator) (Denominator) Amount
-------------------------------------------------------------------------------------------------
<S> <C> <C> <C>
2000
----
BASIC EPS:
Net Income available to
common stockholders 3,106 25,017 0.12
=====
EFFECT OF DILUTIVE SECURITIES
Restricted stock
-- 765
8.75% convertible
subordinated debentures 71 697
Stock options 13 257
------- --------
DILUTED EPS
Income available to common
stockholders and assumed
conversions 3,189 26,736 0.12
======= ======== =====
1999
----
BASIC EPS:
Net Income available to
common stockholders 27,615 27,687 1.00
=====
EFFECT OF DILUTIVE SECURITIES
Restricted stock -- 279
8.75% convertible
subordinated debentures 89 874
Stock options 28 281
------- --------
DILUTED EPS
Income available to common
stockholders and assumed
conversions 27,732 29,121 0.95
======= ======== =====
</TABLE>
20
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