EX-11 2 sigi-ex11_9302012xq3.htm EXHIBIT SIGI-Ex11_9/30/2012-Q3


Exhibit 11

SELECTIVE INSURANCE GROUP, INC. AND CONSOLIDATED SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE


Third Quarter 2012
 
Income
 
Shares
 
Per Share
(in thousands, except per share amounts)
 
(Numerator)
 
(Denominator)
 
Amount
Basic EPS:
 
 
 
 
 
 
Net income available to common shareholders
$
18,274

 
54,969

$
0.33

 
 
 
 
 
 
 
Effect of dilutive securities:
 
 
 
 
 
 
Stock compensation plans
 
—

 
893

 
 
 
 
 
 
 
 
 
Diluted EPS:
 
 
 
 
 
 
Net income available to common stockholders
$
18,274

 
55,862

$
0.33


Third Quarter 2011
 
Income
 
Shares
 
Per Share
(in thousands, except per share amounts)
 
(Numerator)
 
(Denominator)
 
Amount
Basic EPS:
 
 
 
 
 
 
Net loss from continuing operations
$
(17,318
)
 
54,183

$
(0.32
)
Net loss from discontinued operations
 
(650
)
 
54,183

 
(0.01
)
Net loss available to common shareholders
 
(17,968
)
 
54,183

 
(0.33
)
 
 
 
 
 
 
 
Effect of dilutive securities:
 
 
 
 
 
 
Stock compensation plans
 
—

 
—

 
 
 
 
 
 
 
 
 
Diluted EPS:
 
 
 
 
 
 
Net loss from continuing operations
 
(17,318
)
 
54,183

 
(0.32
)
Net loss from discontinued operations
 
(650
)
 
54,183

 
(0.01
)
Net loss available to common stockholders
$
(17,968
)
 
54,183

$
(0.33
)
There was no effect of dilutive securities for Third Quarter 2011 since the quarter was in a loss position and the effect of common stock equivalents would be anti-dilutive to our earnings per share calculation.

Nine Months 2012
 
Income
 
Shares
 
Per Share
(in thousands, except per share amounts)
 
(Numerator)
 
(Denominator)
 
Amount
Basic EPS:
 
 
 
 
 
 
Net income available to common shareholders
$
36,655

 
54,825

$
0.67

 
 
 
 
 
 
 
Effect of dilutive securities:
 
 
 
 
 
 
Stock compensation plans
 
—

 
892

 
 
 
 
 
 
 
 
 
Diluted EPS:
 
 
 
 
 
 
Net income available to common stockholders
$
36,655

 
55,717

$
0.66






Nine Months 2011
 
Income
 
Shares
 
Per Share
(in thousands, except per share amounts)
 
(Numerator)
 
(Denominator)
 
Amount
Basic EPS:
 
 
 
 
 
 
Net income from continuing operations
$
4,649

 
54,033

$
0.08

Net loss from discontinued operations
 
(650
)
 
54,033

 
(0.01
)
Net income available to common shareholders
 
3,999

 
54,033

 
0.07

 
 
 
 
 
 
 
Effect of dilutive securities:
 
 
 
 
 
 
Stock compensation plans
 
—

 
1,139

 
 
 
 
 
 
 
 
 
Diluted EPS:
 
 
 
 
 
 
Net income from continuing operations
 
4,649

 
55,172

 
0.08

Net loss from discontinued operations
 
(650
)
 
55,172

 
(0.01
)
Net income available to common stockholders
$
3,999

 
55,172

$
0.07