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THE NAVIGATORS GROUP, INC. AND SUBSIDIARIES
COMPUTATION OF PER SHARE EARNINGS
Earnings Per Share of Common Stock and Common Stock Equivalents
(In thousands, except per share data)
| Year Ended December 31, | ||||||||
---|---|---|---|---|---|---|---|---|---|
| 2002 | 2001 | 2000 | ||||||
Net income applicable to common stock | $ | 16,397 | $ | 3,668 | $ | 7,032 | |||
Average number of common shares outstanding | 8,463 | 8,419 | 8,414 | ||||||
Net income per share—Basic | $ | 1.94 | $ | 0.44 | $ | 0.84 | |||
Average number of common shares outstanding | 8,463 | 8,419 | 8,414 | ||||||
Add: Assumed exercise of stock options and grants | 213 | 128 | — | ||||||
Common and common equivalent shares outstanding | 8,676 | 8,547 | 8,414 | ||||||
Net income per share—Diluted | $ | 1.89 | $ | 0.43 | $ | 0.84 |
THE NAVIGATORS GROUP, INC. AND SUBSIDIARIES COMPUTATION OF PER SHARE EARNINGS Earnings Per Share of Common Stock and Common Stock Equivalents (In thousands, except per share data)