EXHIBIT 11
SELECTIVE INSURANCE GROUP, INC. AND CONSOLIDATED SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
First Quarter 2011 | Income | Shares | Per Share | |||||||||
(in thousands, except per share amounts) | (Numerator) | (Denominator) | Amount | |||||||||
Basic EPS: | ||||||||||||
Net income available to common shareholders | $ | 21,549 | 53,863 | $ | 0.40 | |||||||
Effect of dilutive securities: | ||||||||||||
Restricted stock and restricted stock units | - | 858 | ||||||||||
Employee stock purchase plan | - | 4 | ||||||||||
Stock options | - | 141 | ||||||||||
Deferred shares | - | 188 | ||||||||||
Diluted EPS: | ||||||||||||
Net income available to common stockholders | $ | 21,549 | 55,054 | $ | 0.39 |
First Quarter 2010 | Income | Shares | Per Share | |||||||||
(in thousands, except per share amounts) | (Numerator) | (Denominator) | Amount | |||||||||
Basic EPS: | ||||||||||||
Net income from continuing operations | $ | 6,593 | 53,144 | $ | 0.12 | |||||||
Net loss from discontinued operations | (790 | ) | 53,144 | (0.01 | ) | |||||||
Net income available to common stockholders | $ | 5,803 | 53,144 | $ | 0.11 | |||||||
Effect of dilutive securities: | ||||||||||||
Restricted stock | - | 82 | ||||||||||
Restricted stock units | - | 684 | ||||||||||
Employee stock purchase plan | - | 1 | ||||||||||
Stock options | - | 126 | ||||||||||
Deferred shares | - | 180 | ||||||||||
Diluted EPS: | ||||||||||||
Net income from continuing operations | $ | 6,593 | 54,217 | $ | 0.12 | |||||||
Net loss from discontinued operations | (790 | ) | 54,217 | (0.01 | ) | |||||||
Net income available to common stockholders | $ | 5,803 | 54,217 | $ | 0.11 |