EX-11 3 l93455aex11.txt EXHIBIT 11 EXHIBIT 11 CINCINNATI FINANCIAL CORPORATION STATEMENT RE COMPUTATION OF PER SHARE EARNINGS (000's omitted except per share amounts)
2001 2000 1999 ---- ---- ---- Basic Earnings per share: Net income $ 193 $ 118 $ 255 ============ =========== ============ Average shares outstanding 161 161 165 ============ =========== ============ Net income per common share $ 1.20 $ .74 $ 1.55 ============ =========== ============ Diluted earnings per share: Net income $ 193 $ 118 $ 255 Interest on convertible debentures--net of tax 1 1 1 ------------ ----------- ------------ Net income for per share calculation (diluted) $ 194 $ 119 $ 256 ============ =========== ============ Average shares outstanding 161 161 165 Effective of dilutive securities: 5.5% convertible senior debentures 1 2 2 Stock options 0 1 2 ------------ ----------- ------------ Total diluted shares 162 164 169 ============ =========== ============ Net income per common share--diluted $ $ $ 1.19 .73 1.52 ============ =========== ============