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In this paper, we present a unified approach for the computation of the outage probability, the level crossing rate (LCR), and the average outage duration (AOD) of selection combining (SC) in the presence of multiple cochannel interferences and under both minimum signal-to-interference ratio (SIR) and desired signal power constraints. We consider three selection algorithms, namely: 1) the best signal power algorithm; 2) the best SIR algorithm; and 3) the best total power (desired plus interference) algorithm. As a specific application example, we analyze the three algorithms for a low-complexity dual-branch SC receiver subject to multiple interferers over Rayleigh fading channels. When applicable, the new results are compared to those previously reported in the literature dealing with the outage probability, AOD, and LCR of 1) interference-limited systems and 2) power-limited systems. Numerical examples show that the minimum desired signal power constraint induces a floor to the outage probability, AOD, and LCR performance measures. They also show that the best SIR algorithm provides the best outage probability and AOD performance for low average SIR. On the other hand, the best signal power algorithm and the best S+I algorithm outperform the best SIR algorithm for high average SIR. It is also shown that the best SIR algorithm tends to have more outage level crossings.