Exhibit 11
SELECTIVE INSURANCE GROUP, INC. AND CONSOLIDATED SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
Third Quarter 2011 | Income | Shares | Per Share | |||||||||
(in thousands, except per share amounts) | (Numerator) | (Denominator) | Amount | |||||||||
Basic EPS: | ||||||||||||
Net loss from continuing operations | $ | (19,492 | ) | 54,183 | $ | (0.36 | ) | |||||
Net loss from discontinued operations | (650 | ) | 54,183 | (0.01 | ) | |||||||
Net loss available to common stockholders | (20,142 | ) | 54,183 | $ | (0.37 | ) | ||||||
Effect of dilutive securities: | ||||||||||||
Restricted stock units | - | - | ||||||||||
Employee stock purchase plan | - | - | ||||||||||
Stock options | - | - | ||||||||||
Deferred shares | - | - | ||||||||||
Diluted EPS: | ||||||||||||
Net loss from continuing operations | $ | (19,492 | ) | 54,183 | $ | (0.36 | ) | |||||
Net loss from discontinued operations | (650 | ) | 54,183 | (0.01 | ) | |||||||
Net loss available to common stockholders | $ | (20,142 | ) | 54,183 | $ | (0.37 | ) |
There was no effect of dilutive securities for Third Quarter 2011 since the quarter was in a loss position and the effect of common stock equivalents would be anti-dilutive to our earnings per share calculation.
Third Quarter 2010 | Income | Shares | Per Share | |||||||||
(in thousands, except per share amounts) | (Numerator) | (Denominator) | Amount | |||||||||
Basic EPS: | ||||||||||||
Net income from continuing operations | $ | 18,831 | 53,457 | $ | 0.35 | |||||||
Net loss from discontinued operations | (1,634 | ) | 53,457 | (0.03 | ) | |||||||
Net income available to common stockholders | $ | 17,197 | 53,457 | $ | 0.32 | |||||||
Effect of dilutive securities: | ||||||||||||
Restricted stock and restricted stock units | - | 831 | ||||||||||
Employee stock purchase plan | - | 7 | ||||||||||
Stock options | - | 93 | ||||||||||
Deferred shares | - | 185 | ||||||||||
Diluted EPS: | ||||||||||||
Net income from continuing operations | $ | 18,831 | 54,573 | $ | 0.35 | |||||||
Net loss from discontinued operations | (1,634 | ) | 54,573 | (0.03 | ) | |||||||
Net income available to common stockholders | $ | 17,197 | 54,573 | $ | 0.32 |
Nine Months 2011 | Income | Shares | Per Share | |||||||||
(in thousands, except per share amounts) | (Numerator) | (Denominator) | Amount | |||||||||
Basic EPS: | ||||||||||||
Net income from continuing operations | $ | 4,382 | 54,033 | $ | 0.08 | |||||||
Net loss from discontinued operations | (650 | ) | 54,033 | (0.01 | ) | |||||||
Net income available to common stockholders | $ | 3,732 | 54,033 | $ | 0.07 | |||||||
Effect of dilutive securities: | ||||||||||||
Restricted stock and restricted stock units | - | 833 | ||||||||||
Employee stock purchase plan | - | 23 | ||||||||||
Stock options | - | 99 | ||||||||||
Deferred shares | - | 184 | ||||||||||
Diluted EPS: | ||||||||||||
Net income from continuing operations | $ | 4,382 | 55,172 | $ | 0.08 | |||||||
Net loss from discontinued operations | (650 | ) | 55,172 | (0.01 | ) | |||||||
Net income available to common stockholders | $ | 3,732 | 55,172 | $ | 0.07 |
Nine Months 2010 | Income | Shares | Per Share | |||||||||
(in thousands, except per share amounts) | (Numerator) | (Denominator) | Amount | |||||||||
Basic EPS: | ||||||||||||
Net income from continuing operations | $ | 45,515 | 53,298 | $ | 0.85 | |||||||
Net loss from discontinued operations | (3,749 | ) | 53,298 | (0.07 | ) | |||||||
Net income available to common stockholders | $ | 41,766 | 53,298 | $ | 0.78 | |||||||
Effect of dilutive securities: | ||||||||||||
Restricted stock and restricted stock units | - | 791 | ||||||||||
Employee stock purchase plan | - | 8 | ||||||||||
Stock options | - | 111 | ||||||||||
Deferred shares | - | 182 | ||||||||||
Diluted EPS: | ||||||||||||
Net income from continuing operations | $ | 45,515 | 54,390 | $ | 0.84 | |||||||
Net loss from discontinued operations | (3,749 | ) | 54,390 | (0.07 | ) | |||||||
Net income available to common stockholders | $ | 41,766 | 54,390 | $ | 0.77 |