EX-11 2 exhibit11.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 June 30, 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

$

22,227 

24,098 

Denominator:

    Basic earnings per share -

    weighted-average shares

3,628 

3,598 

    Effect of dilutive stock options

37 

32 

    Diluted earnings per share -

    adjusted weighted-average

    shares for assumed conversions

3,665 

3,630 

Basic earnings per share

$

6.13 

6.70 

Diluted earnings per share

$

6.07 

6.64 



EXHIBIT 11

NATIONAL WESTERN LIFE INSURANCE COMPANY AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
For the Six Months Ended June 30, 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

$

36,272 

40,300 

Denominator:

    Basic earnings per share -

    weighted-average shares

3,623 

3,595 

    Effect of dilutive stock options

38 

33 

    Diluted earnings per share -

    adjusted weighted-average

    shares for assumed conversions

3,661 

3,628 

Basic earnings per share

$

10.01 

11.21 

Diluted earnings per share

$

9.91 

11.11