EX-11 3 v219656_ex11.htm
EXHIBIT 11
 
SELECTIVE INSURANCE GROUP, INC. AND CONSOLIDATED SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
 
First Quarter 2011
 
Income
   
Shares
   
Per Share
 
(in thousands, except per share amounts)
 
(Numerator)
   
(Denominator)
   
Amount
 
Basic EPS:
                 
Net income available to common shareholders
  $ 21,549       53,863     $ 0.40  
                         
Effect of dilutive securities:
                       
Restricted stock and restricted stock units
    -       858          
Employee stock purchase plan
    -       4          
Stock options
    -       141          
Deferred shares
    -       188          
                         
Diluted EPS:
                       
Net income available to common stockholders
  $ 21,549       55,054     $ 0.39  
 
First Quarter 2010
 
Income
   
Shares
   
Per Share
 
(in thousands, except per share amounts)
 
(Numerator)
   
(Denominator)
   
Amount
 
Basic EPS:
                 
Net income from continuing operations
  $ 6,593       53,144     $ 0.12  
Net loss from discontinued operations
    (790 )     53,144       (0.01 )
Net income available to common stockholders
  $ 5,803       53,144     $ 0.11  
                         
Effect of dilutive securities:
                       
Restricted stock
    -       82          
Restricted stock units
    -       684          
Employee stock purchase plan
    -       1          
Stock options
    -       126          
Deferred shares
    -       180          
                         
Diluted EPS:
                       
Net income from continuing operations
  $ 6,593       54,217     $ 0.12  
Net loss from discontinued operations
    (790 )     54,217       (0.01 )
Net income available to common stockholders
  $ 5,803       54,217     $ 0.11