Exhibit 11
KIMBALL INTERNATIONAL, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
EARNINGS PER SHARE | | (Unaudited) | | (Unaudited) | |
FROM CONTINUING OPERATIONS | | Three Months Ended | | Three Months Ended | |
| | December 31, 2005 | | December 31, 2004 | |
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(Amounts in Thousands, Except for per Share Data) | Class A | Class B | Total | | Class A | Class B | Total |
Basic Earnings Per Share from Continuing Operations: | | | | | | |
Dividends Declared | $ 2,020 | $ 3,983 | $ 6,003 | | $ 2,137 | $ 3,949 | $ 6,086 |
Undistributed Earnings (Loss) | (307) | (570) | (877) | | 511 | 922 | 1,433 |
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Income from Continuing Operations | $ 1,713 | $ 3,413 | $ 5,126 | | $ 2,648 | $ 4,871 | $ 7,519 |
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Average Basic Shares Outstanding | 13,352 | 24,851 | 38,203 | | 13,584 | 24,555 | 38,139 |
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Basic Earnings Per Share from Continuing Operations | $0.13 | $0.14 | | | $0.19 | $0.20 | |
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Diluted Earnings Per Share from Continuing Operations: | | | | | | | |
Dividends Declared and Assumed Dividends on Dilutive Shares | $ 2,040 | $ 3,985 | $ 6,025 | | $ 2,137 | $ 3,959 | $ 6,096 |
Undistributed Earnings (Loss) | (316) | (583) | (899) | | 510 | 913 | 1,423 |
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Income from Continuing Operations | $ 1,724 | $ 3,402 | $ 5,126 | | $ 2,647 | $ 4,872 | $ 7,519 |
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Average Diluted Shares Outstanding | 13,482 | 24,861 | 38,343 | | 13,807 | 24,718 | 38,525 |
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Diluted Earnings Per Share from Continuing Operations | $0.13 | $0.14 | | | $0.19 | $0.20 | |
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Reconciliation of Basic and Diluted EPS from Continuing Operations Calculations: | | | | | | |
Income from Continuing Operations Used for Basic EPS Calculation | $ 1,713 | $ 3,413 | $ 5,126 | | $ 2,648 | $ 4,871 | $ 7,519 |
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Assumed Dividends Payable on Dilutive Shares: | | | | | | |
Stock options | -- | -- | -- | | -- | -- | -- |
Performance share awards | 20 | 2 | 22 | | -- | 10 | 10 |
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(Reduction) Increase of Undistributed Earnings - allocated based on Class A and Class B shares | (9) | (13) | (22) | | (1) | (9) | (10) |
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Income from Continuing Operations Used for Diluted EPS Calculation | $ 1,724 | $ 3,402 | $ 5,126 | | $ 2,647 | $ 4,872 | $ 7,519 |
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Average Shares Outstanding for Basic EPS Calculation | 13,352 | 24,851 | 38,203 | | 13,584 | 24,555 | 38,139 |
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Dilutive Effect of Average Outstanding: | | | | | | | |
Stock options | -- | -- | -- | | -- | -- | -- |
Performance share awards | 130 | 10 | 140 | | -- | 66 | 66 |
Restricted share units | -- | -- | -- | | 223 | 97 | 320 |
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Average Shares Outstanding for Diluted EPS Calculation | 13,482 | 24,861 | 38,343 | | 13,807 | 24,718 | 38,525 |
Included in dividends declared for the basic and diluted earnings per share computation are dividends computed and accrued on unvested Class A and Class B restricted share units, which will be paid by a conversion to the equivalent value of common shares after a vesting period.
For the current year period, all 1,935,000 average stock options outstanding were antidilutive and were excluded from the dilutive calculation. For the prior year period, all 2,440,000 average stock options outstanding were antidilutive and were excluded from the dilutive calculation.
KIMBALL INTERNATIONAL, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
EARNINGS PER SHARE | | (Unaudited) | | (Unaudited) | |
FROM CONTINUING OPERATIONS | | Six Months Ended | | Six Months Ended | |
| | December 31, 2005 | | December 31, 2004 | |
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| |
| |
(Amounts in Thousands, Except for per Share Data) | Class A | Class B | Total | | Class A | Class B | Total |
Basic Earnings Per Share from Continuing Operations: | | | | | | |
Dividends Declared | $ 4,178 | $ 7,958 | $12,136 | | $ 4,283 | $ 7,885 | $12,168 |
Undistributed Earnings (Loss) | (2,518) | (4,648) | (7,166) | | 465 | 837 | 1,302 |
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Income from Continuing Operations | $ 1,660 | $ 3,310 | $ 4,970 | | $ 4,748 | $ 8,722 | $13,470 |
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Average Basic Shares Outstanding | 13,418 | 24,766 | 38,184 | | 13,605 | 24,524 | 38,129 |
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Basic Earnings Per Share from Continuing Operations | $0.12 | $0.13 | | | $0.35 | $0.36 | |
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Diluted Earnings Per Share from Continuing Operations: | | | | | | | |
Dividends Declared and Assumed Dividends on Dilutive Shares | $ 4,214 | $ 7,961 | $12,175 | | $ 4,283 | $ 7,907 | $12,190 |
Undistributed Earnings (Loss) | (2,546) | (4,659) | (7,205) | | 459 | 821 | 1,280 |
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Income from Continuing Operations | $ 1,668 | $ 3,302 | $ 4,970 | | $ 4,742 | $ 8,728 | $13,470 |
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Average Diluted Shares Outstanding | 13,534 | 24,775 | 38,309 | | 13,828 | 24,690 | 38,518 |
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Diluted Earnings Per Share from Continuing Operations | $0.12 | $0.13 | | | $0.34 | $0.35 | |
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Reconciliation of Basic and Diluted EPS from Continuing Operations Calculations: | | | | | | |
Income from Continuing Operations Used for Basic EPS Calculation | $ 1,660 | $ 3,310 | $ 4,970 | | $ 4,748 | $ 8,722 | $13,470 |
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Assumed Dividends Payable on Dilutive Shares: | | | | | | |
Stock options | -- | -- | -- | | -- | -- | -- |
Performance share awards | 36 | 3 | 39 | | -- | 22 | 22 |
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(Reduction) Increase of Undistributed Earnings - allocated based on Class A and Class B shares | (28) | (11) | (39) | | (6) | (16) | (22) |
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Income from Continuing Operations Used for Diluted EPS Calculation | $ 1,668 | $ 3,302 | $ 4,970 | | $ 4,742 | $ 8,728 | $13,470 |
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Average Shares Outstanding for Basic EPS Calculation | 13,418 | 24,766 | 38,184 | | 13,605 | 24,524 | 38,129 |
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Dilutive Effect of Average Outstanding: | | | | | | | |
Stock options | -- | -- | -- | | -- | -- | -- |
Performance share awards | 116 | 9 | 125 | | -- | 68 | 68 |
Restricted share units | -- | -- | -- | | 223 | 98 | 321 |
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Average Shares Outstanding for Diluted EPS Calculation | 13,534 | 24,775 | 38,309 | | 13,828 | 24,690 | 38,518 |
Included in dividends declared for the basic and diluted earnings per share computation are dividends computed and accrued on unvested Class A and Class B restricted share units, which will be paid by a conversion to the equivalent value of common shares after a vesting period.
For the current year period, all 2,063,000 average stock options outstanding were antidilutive and were excluded from the dilutive calculation. For the prior year period, all 2,498,000 average stock options outstanding were antidilutive and were excluded from the dilutive calculation.
KIMBALL INTERNATIONAL, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
| EARNINGS (LOSS) PER SHARE | (Unaudited) | | (Unaudited) |
| FROM DISCONTINUED OPERATIONS | Three Months Ended | | Three Months Ended |
| | December 31, 2005 | | December 31, 2004 |
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Basic: | | | |
Class A | $(0.03) | | $(0.03) |
Class B | $(0.03) | | $(0.04) |
Diluted: | | | |
Class A | $(0.03) | | $(0.03) |
Class B | $(0.03) | | $(0.04) |
| | | |
| (Unaudited) | | (Unaudited) |
| Six Months Ended | | Six Months Ended |
| December 31, 2005 | | December 31, 2004 |
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Basic: | | | |
Class A | $(0.20) | | $(0.06) |
Class B | $(0.20) | | $(0.07) |
Diluted: | | | |
Class A | $(0.20) | | $(0.06) |
Class B | $(0.20) | | $(0.06) |
| EARNINGS PER SHARE | (Unaudited) | | (Unaudited) |
| FROM CUMULATIVE EFFECT OF CHANGE | Three Months Ended | | Three Months Ended |
| IN ACCOUNTING PRINCIPLE | December 31, 2005 | | December 31, 2004 |
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Basic: | | | |
Class A | $0.00 | | $0.00 |
Class B | $0.00 | | $0.00 |
Diluted: | | | |
Class A | $0.00 | | $0.00 |
Class B | $0.00 | | $0.00 |
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| EARNINGS PER SHARE | (Unaudited) | | (Unaudited) |
| FROM CUMULATIVE EFFECT OF CHANGE | Six Months Ended | | Six Months Ended |
| IN ACCOUNTING PRINCIPLE | December 31, 2005 | | December 31, 2004 |
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Basic: | | | |
Class A | $0.01 | | $0.00 |
Class B | $0.01 | | $0.00 |
Diluted: | | | |
Class A | $0.01 | | $0.00 |
Class B | $0.01 | | $0.00 |
KIMBALL INTERNATIONAL, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
EARNINGS (LOSS) PER SHARE | | (Unaudited) | | (Unaudited) | |
(INCLUDING DISCONTINUED OPERATIONS | | Three Months Ended | | Three Months Ended | |
AND CUMULATIVE EFFECT OF CHANGE IN | | December 31, 2005 | | December 31, 2004 | |
ACCOUNTING PRINCIPLE) | |
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(Amounts in Thousands, Except for per Share Data) | Class A | Class B | Total | | Class A | Class B | Total |
Basic Earnings Per Share: | | | | | | | |
Dividends Declared | $ 2,020 | $ 3,983 | $ 6,003 | | $ 2,137 | $ 3,949 | $ 6,086 |
Undistributed Earnings (Loss) | (619) | (1,150) | (1,769) | | 11 | 19 | 30 |
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Net Income | $ 1,401 | $ 2,833 | $ 4,234 | | $ 2,148 | $ 3,968 | $ 6,116 |
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Average Basic Shares Outstanding | 13,352 | 24,851 | 38,203 | | 13,584 | 24,555 | 38,139 |
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Basic Earnings (Loss) Per Share | $0.10 | $0.11 | | | $0.16 | $0.16 | |
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Diluted Earnings Per Share: | | | | | | | |
Dividends Declared and Assumed Dividends on Dilutive Shares | $ 2,040 | $ 3,985 | $ 6,025 | | $ 2,137 | $ 3,959 | $ 6,096 |
Undistributed Earnings (Loss) | (630) | (1,161) | (1,791) | | 7 | 13 | 20 |
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Net Income (Loss) | $ 1,410 | $ 2,824 | $ 4,234 | | $ 2,144 | $ 3,972 | $ 6,116 |
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Average Diluted Shares Outstanding | 13,482 | 24,861 | 38,343 | | 13,807 | 24,718 | 38,525 |
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Diluted Earnings (Loss) Per Share | $0.10 | $0.11 | | | $0.16 | $0.16 | |
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EARNINGS (LOSS) PER SHARE | | (Unaudited) | | (Unaudited) |
(INCLUDING DISCONTINUED OPERATIONS | | Six Months Ended | | Six Months Ended |
AND CUMULATIVE EFFECT OF CHANGE IN | | December 31, 2005 | | December 31, 2004 |
ACCOUNTING PRINCIPLE) | |
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(Amounts in Thousands, Except for per Share Data) | Class A | Class B | Total | | Class A | Class B | Total |
Basic Earnings Per Share: | | | | | | | |
Dividends Declared | $ 4,178 | $ 7,958 | $12,136 | | $ 4,283 | $ 7,885 | $12,168 |
Undistributed Earnings (Loss) | (5,083) | (9,382) | (14,465) | | (370) | (667) | (1,037) |
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Net Income (Loss) | $ (905) | $(1,424) | $(2,329) | | $ 3,913 | $ 7,218 | $11,131 |
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Average Basic Shares Outstanding | 13,418 | 24,766 | 38,184 | | 13,605 | 24,524 | 38,129 |
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Basic Earnings (Loss) Per Share | $(0.07) | $(0.06) | | | $0.29 | $0.29 | |
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Diluted Earnings Per Share: | | | | | | | |
Dividends Declared and Assumed Dividends on Dilutive Shares | $ 4,214 | $ 7,961 | $12,175 | | $ 4,283 | $ 7,907 | $12,190 |
Undistributed Earnings (Loss) | (5,124) | (9,380) | (14,504) | | (380) | (679) | (1,059) |
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Net Income (Loss) | $ (910) | $(1,419) | $(2,329) | | $ 3,903 | $ 7,228 | $11,131 |
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Average Diluted Shares Outstanding | 13,534 | 24,775 | 38,309 | | 13,828 | 24,690 | 38,518 |
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Diluted Earnings (Loss) Per Share | $(0.07) | $(0.06) | | | $0.28 | $0.29 | |