EX-11 3 v229723_ex11.htm
Exhibit 11
 
SELECTIVE INSURANCE GROUP, INC. AND CONSOLIDATED SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
 
Second Quarter 2011
 
Income
   
Shares
   
Per Share
 
(in thousands, except per share amounts)
 
(Numerator)
   
(Denominator)
   
Amount
 
Basic EPS:
                 
Net income available to common stockholders
  $ 2,325       54,049     $ 0.04  
                         
Effect of dilutive securities:
                       
Restricted stock units
    -       788          
Stock options
    -       111          
Deferred shares
    -       187          
                         
Diluted EPS:
                       
Net income available to common stockholders
  $ 2,325       55,135     $ 0.04  
 
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  
 
Six Months 2011
 
Income
   
Shares
   
Per Share
 
(in thousands, except per share amounts)
 
(Numerator)
   
(Denominator)
   
Amount
 
Basic EPS:
                 
Net income available to common stockholders
  $ 23,874       53,956     $ 0.44  
                         
Effect of dilutive securities:
                       
Restricted stock and restricted stock units
    -       823          
Stock options
    -       125          
Deferred shares
    -       188          
                         
Diluted EPS:
                       
Net income available to common stockholders
  $ 23,874       55,092     $ 0.43  
 
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