EX-11 2 ex11.txt EXHIBIT 11 1 EXHIBIT 11 CINCINNATI FINANCIAL CORPORATION STATEMENT RE COMPUTATION OF PER SHARE EARNINGS (000's omitted except per share data)
Six Months Ended Three Months Ended June 30, June 30, -------------------- -------------------- 2000 1999 2000 1999 -------- -------- -------- -------- Basic earnings per share: Net income $154,057 $150,731 $ 74,694 $ 86,254 ======== ======== ======== ======== Average shares outstanding 161,527 165,507 161,623 163,105 ======== ======== ======== ======== Net income per common share $ .95 $ .91 $ .46 $ .53 ======== ======== ======== ======== Diluted earnings per share: Net income $154,057 $150,731 $ 74,694 $ 86,254 Interest on convertible debentures--net of tax 665 858 337 408 -------- -------- -------- -------- Net income for per share calculation (diluted) $154,722 $151,589 $ 75,031 $ 86,662 ======== ======== ======== ======== Average shares outstanding 161,527 165,507 161,623 163,105 Effective of dilutive securities: 5.5% convertible senior debentures 2,112 2,895 2,112 2,895 Stock options 1,256 1,626 1,814 1,750 -------- -------- -------- -------- Total dilutive shares 164,895 170,028 165,549 167,750 ======== ======== ======== ======== Net income per common share--diluted $ .94 $ .89 $ .45 $ .52 ======== ======== ======== ========
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