EX-11 4 v191507_ex11.htm
 
EXHIBIT 11
 
SELECTIVE INSURANCE GROUP, INC. AND CONSOLIDATED SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
 
Second Quarter 2010
 
Income
   
Shares
   
Per Share
 
(in thousands, except per share amounts)
 
(Numerator)
   
(Denominator)
   
Amount
 
Basic EPS:
                 
Net income from continuing operations
  $ 20,091       53,289       0.37  
Net loss from discontinued operations
    (1,325 )     53,289       (0.02 )
Net income available to common stockholders
  $ 18,766       53,289       0.35  
                         
Effect of dilutive securities:
                       
Restricted stock
    -       7          
Restricted stock units
    -       768          
Stock options
    -       115          
Deferred shares
    -       182          
                         
Diluted EPS:
                       
Net income from continuing operations
  $ 20,091       54,361       0.37  
Net loss from discontinued operations
    (1,325 )     54,361       (0.02 )
Net income available to common stockholders
    18,766       54,361       0.35  
 
Second Quarter 2009
 
Income
   
Shares
   
Per Share
 
(in thousands, except per share amounts)
 
(Numerator)
   
(Denominator)
   
Amount
 
Basic EPS:
                 
Net income from continuing operations
  $ 15,358       52,571     $ 0.29  
Net income from discontinued operations
    330       52,571       0.01  
Net income available to common stockholders
  $ 15,688       52,571     $ 0.30  
                         
Effect of dilutive securities:
                       
Restricted stock
    -       260          
Restricted stock units
    -       145          
Stock options
    -       82          
Deferred shares
    -       176          
                         
Diluted EPS:
                       
Net income from continuing operations
  $ 15,358       53,234     $ 0.28  
Net income from discontinued operations
    330       53,234       0.01  
Net income available to common stockholders
    15,688       53,234       0.29  
 
 
 

 
 
Six Months 2010
 
Income
   
Shares
   
Per Share
 
(in thousands, except per share amounts)
 
(Numerator)
   
(Denominator)
   
Amount
 
Basic EPS:
                 
Net income from continuing operations
  $ 26,684       53,217       0.50  
Net loss from discontinued operations
    (2,115 )     53,217       (0.04 )
Net income available to common stockholders
  $ 24,569       53,217       0.46  
                         
Effect of dilutive securities:
                       
Restricted stock
    -       44          
Restricted stock units
    -       726          
Stock options
    -       121          
Deferred shares
    -       181          
                         
Diluted EPS:
                       
Net income from continuing operations
  $ 26,684       54,289       0.49  
Net loss from discontinued operations
    (2,115 )     54,289       (0.04 )
Net income available to common stockholders
    24,569       54,289       0.45  
 
Six Months 2009
 
Income
   
Shares
   
Per Share
 
(in thousands, except per share amounts)
 
(Numerator)
   
(Denominator)
   
Amount
 
Basic EPS:
                 
Net income from continuing operations
  $ 2,408       52,462     $ 0.04  
Net income from discontinued operations
    403       52,462       0.01  
Net income available to common stockholders
  $ 2,811       52,462       0.05  
                         
Effect of dilutive securities:
                       
Restricted stock
    -       311          
Restricted stock units
    -       126          
Stock options
    -       98          
Deferred shares
    -       184          
                         
Diluted EPS:
                       
Net income from continuing operations
  $ 2,408       53,181     $ 0.04  
Net income from discontinued operations
    403       53,181       0.01  
Net income available to common stockholders
    2,811       53,181       0.05