EX-11 2 w99979exv11.txt COMPUTATION OF EARNINGS PER SHARE EXHIBIT 11 Philadelphia Consolidated Holding Corp. and Subsidiaries Computation of Earnings Per Share (Dollars and Share Data in Thousands, Except Per Share Data)
As of and For the Years Ended December 31, --------------------------------------------- 2003 2002 2001 (Restated) (Restated) (Restated) ---------- ---------- ---------- Weighted-Average Common Shares Outstanding 21,909 21,611 16,529 Weighted-Average Share Equivalents Outstanding 751 682 656 -------- -------- -------- Weighted-Average Shares and Share Equivalents Outstanding 22,660 22,293 17,185 ======== ======== ======== Net Income $ 62,187 $ 33,753 $ 32,811 ======== ======== ======== Basic Earnings Per Share $ 2.84 $ 1.56 $ 1.99 ======== ======== ======== Diluted Earnings Per Share $ 2.74 $ 1.51 $ 1.91 ======== ======== ========