The calculations of basic and diluted earnings per share for 2012, 2011, and 2010 are:



	For the Year Ended December 31, 2012
	Net income attributable to SEI (Numerator)		Shares (Denominator)	Per-Share Amount
Basic earnings per common share	$	206,848	174,295	$	1.19
Dilutive effect of stock options	—		1,577
Diluted earnings per common share	$	206,848	175,872	$	1.18



	For the Year Ended December 31, 2011
	Net income attributable to SEI (Numerator)		Shares (Denominator)	Per-Share Amount
Basic earnings per common share	$	204,959	182,547	$	1.12
Dilutive effect of stock options	—		1,580
Diluted earnings per common share	$	204,959	184,127	$	1.11



	For the Year Ended December 31, 2010
	Net income attributable to SEI (Numerator)		Shares (Denominator)	Per-Share Amount
Basic earnings per common share	$	231,687	188,468	$	1.23
Dilutive effect of stock options	—		1,853
Diluted earnings per common share	$	231,687	190,321	$	1.22

Employee stock options to purchase approximately 13,202,000, 15,914,000, and 13,181,000 shares of common stock, with an average exercise price per share of $24.76, $23.07, and $23.79, were outstanding during 2012, 2011, and 2010, respectively, but not included in the computation of diluted earnings per common share because the option’s exercise price was greater than the average market price of the Company’s common stock and the effect on diluted earnings per common share would have been anti-dilutive (See Note 8).