EX-11 2 l87259aex11.txt EXHIBIT 11 1 EXHIBIT 11 CINCINNATI FINANCIAL CORPORATION STATEMENT RE COMPUTATION OF PER SHARE EARNINGS (000's omitted except per share amounts)
2000 1999 1998 ---- ---- ---- Basic Earnings per share: Net income $ 118,365 $ 254,722 $ 241,567 ============ =========== ============ Average shares outstanding 160,611 164,637 166,821 ============ =========== ============ Net income per common share $ .74 $ 1.55 $ 1.45 ============ =========== ============ Diluted earnings per share: Net income $ 118,365 $ 254,722 $ 241,567 Interest on convertible debentures--net of tax 1,206 1,539 1,918 ------------ ----------- ------------ Net income for per share calculation (diluted) $ 119,571 $ 256,261 $ 243,485 ============ =========== ============ Average shares outstanding 160,611 164,637 166,821 Effective of dilutive securities: 5.5% convertible senior debentures 1,990 2,471 3,490 Stock options 1,320 1,507 1,767 ------------ ----------- ------------ Total diluted shares 163,921 168,615 172,078 ============ =========== ============ Net income per common share--diluted $ .73 $ 1.52 $ 1.41 ============ =========== ============