EX-11 2 exhbiit11.htm NATIONAL WESTERN LIFE INSURANCE COMPANY EXHIBIT 11 EXHIBIT 11

EXHIBIT 11

NATIONAL WESTERN LIFE INSURANCE COMPANY AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
For the Three Months Ended March 31, 2006 and 2005
(Unaudited)
(In thousands, except per share data)

2006

2005

Numerator for basic and diluted earnings per share:

    Earnings available to common stockholders

    before and after assumed conversions

$

14,045 

16,202 

Denominator:

    Basic earnings per share -

    weighted-average shares

3,618 

3,591 

    Effect of dilutive stock options

37 

34 

    Diluted earnings per share -

    adjusted weighted-average

    shares for assumed conversions

3,655 

3,625 

Basic earnings per share

$

3.88 

4.51 

Diluted earnings per share

$

3.84 

4.47