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 September 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

$

16,072 

20,169 

Denominator:

    Basic earnings per share -

    weighted-average shares

3,621 

3,610 

    Effect of dilutive stock options

34 

37 

    Diluted earnings per share -

    adjusted weighted-average

    shares for assumed conversions

3,655 

3,647 

Basic earnings per share

$

4.44 

5.59 

Diluted earnings per share

$

4.40 

5.53 




EXHIBIT 11

NATIONAL WESTERN LIFE INSURANCE COMPANY AND SUBSIDIARIES

COMPUTATION OF EARNINGS PER SHARE

For the Nine Months Ended September 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

$

52,344 

60,469 

Denominator:

    Basic earnings per share -

    weighted-average shares

3,620 

3,600 

    Effect of dilutive stock options

36 

34 

    Diluted earnings per share -

    adjusted weighted-average

    shares for assumed conversions

3,656 

3,634 

Basic earnings per share

$

14.46 

16.80 

Diluted earnings per share

$

14.32 

16.64