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Previous: SELECTIVE INSURANCE GROUP INC, 10-Q, EX-10.16.B, 2000-11-14 |
Next: SELECTIVE INSURANCE GROUP INC, 10-Q, EX-27, 2000-11-14 |
<PAGE> 1
EXHIBIT 11
SELECTIVE INSURANCE GROUP, INC. AND CONSOLIDATED SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
NINE-MONTHS ENDED SEPTEMBER 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 19,389 25,079 0.77
=======
EFFECT OF DILUTIVE SECURITIES
Restricted stock -- 755
8.75% convertible subordinated debentures 196 685
Stock options (15) 191
------ ------
DILUTED EPS
Income available to common stockholders and
assumed conversions 19,570 26,710 0.73
======= ======= =======
1999
BASIC EPS:
Net Income available to common stockholders 43,573 27,283 1.60
=======
EFFECT OF DILUTIVE SECURITIES
Restricted stock -- 667
8.75% convertible subordinated debentures 267 874
Stock options (49) 254
------ ------
DILUTED EPS
Income available to common stockholders and
assumed conversions 43,791 29,078 1.51
======= ======= =======
</TABLE>
<PAGE> 2
EXHIBIT 11
SELECTIVE INSURANCE GROUP, INC. AND CONSOLIDATED SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
QUARTER ENDED SEPTEMBER 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 5,373 24,694 0.22
====
EFFECT OF DILUTIVE SECURITIES
Restricted stock -- 757
8.75% convertible subordinated debentures 55 572
Stock options (34) 214
----- ------
DILUTED EPS
Income available to common stockholders and
assumed conversions 5,394 26,237 0.21
===== ====== ====
1999
BASIC EPS:
Net Income available to common stockholders 1,935 27,074 0.07
====
EFFECT OF DILUTIVE SECURITIES
Restricted stock -- 708
8.75% convertible subordinated debentures 88 871
Stock options (5) 260
----- ------
DILUTED EPS
Income available to common stockholders and
assumed conversions 2,018 28,913 0.07
===== ====== ====
</TABLE>
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