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 |
| March 31, 2006 | | March 31, 2005 |
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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 | $ 2,030 | $ 3,996 | $ 6,026 | | $ 2,176 | $ 3,954 | $ 6,130 |
| Undistributed Earnings (Loss) | 209 | 400 | 609 | | (1,078) | (1,955) | (3,033) |
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| Income from Continuing Operations | $ 2,239 | $ 4,396 | $ 6,635 | | $ 1,098 | $ 1,999 | $ 3,097 |
| | | | | | | |
| Average Basic Shares Outstanding | 13,111 | 25,098 | 38,209 | | 13,562 | 24,590 | 38,152 |
| | | | | | | |
Basic Earnings Per Share from Continuing
Operations | $0.17 | $0.18 | | | $0.08 | $0.08 | |
| | | | | | | |
| Diluted Earnings Per Share from Continuing Operations: | | | | | | |
Dividends Declared and Assumed
Dividends on Dilutive Shares | $ 2,052 | $ 3,998 | $ 6,050 | | $ 2,176 | $ 3,961 | $ 6,137 |
| Undistributed Earnings (Loss) | 203 | 382 | 585 | | (1,096) | (1,944) | (3,040) |
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| Income from Continuing Operations | $ 2,255 | $ 4,380 | $ 6,635 | | $ 1,080 | $ 2,017 | $ 3,097 |
| | | | | | | |
| Average Diluted Shares Outstanding | 13,310 | 25,130 | 38,440 | | 13,956 | 24,765 | 38,721 |
| | | | | | | |
Diluted Earnings Per Share from
Continuing Operations | $0.17 | $0.17 | | | $0.08 | $0.08 | |
| | | | | | | |
| Reconciliation of Basic and Diluted EPS from Continuing Operations Calculations: | | | | | | |
Income from Continuing Operations
Used for Basic EPS Calculation | $ 2,239 | $ 4,396 | $ 6,635 | | $ 1,098 | $ 1,999 | $ 3,097 |
| | | | | | | |
| Assumed Dividends Payable on Dilutive Shares: | | | | | | |
| Stock options | -- | -- | -- | | -- | -- | -- |
| Performance share awards | 22 | 2 | 24 | | -- | 7 | 7 |
| | | | | | | |
(Reduction) Increase of Undistributed
Earnings - allocated based on Class A
and Class B shares | (6) | (18) | (24) | | (18) | 11 | (7) |
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Income from Continuing Operations
Used for Diluted EPS Calculation | $ 2,255 | $ 4,380 | $ 6,635 | | $ 1,080 | $ 2,017 | $ 3,097 |
| | | | | | | |
Average Shares Outstanding for Basic
EPS Calculation | 13,111 | 25,098 | 38,209 | | 13,562 | 24,590 | 38,152 |
| | | | | | | |
| Dilutive Effect of Average Outstanding: | | | | | | | |
| Stock options | -- | -- | -- | | -- | -- | -- |
| Performance share awards | 138 | 11 | 149 | | -- | 49 | 49 |
| Restricted share units | 61 | 21 | 82 | | 394 | 126 | 520 |
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Average Shares Outstanding for Diluted
EPS Calculation | 13,310 | 25,130 | 38,440 | | 13,956 | 24,765 | 38,721 |
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 1,860,000 average stock options outstanding were antidilutive and were excluded from the dilutive calculation. For the prior year period, all 2,395,000 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 | Nine Months Ended | | Nine Months Ended |
| March 31, 2006 | | March 31, 2005 |
|
| |
|
| (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 | $ 6,209 | $ 11,954 | $18,163 | | $ 6,460 | $ 11,838 | $18,298 |
| Undistributed Loss | (2,286) | (4,272) | (6,558) | | (617) | (1,114) | (1,731) |
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| Income from Continuing Operations | $ 3,923 | $ 7,682 | $ 11,605 | | $ 5,843 | $ 10,724 | $16,567 |
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| Average Basic Shares Outstanding | 13,315 | 24,877 | 38,192 | | 13,591 | 24,546 | 38,137 |
| | | | | | | |
Basic Earnings Per Share from Continuing
Operations | $0.29 | $0.31 | | | $0.43 | $0.44 | |
| | | | | | | |
| Diluted Earnings Per Share from Continuing Operations: | | | | | | |
Dividends Declared and Assumed
Dividends on Dilutive Shares | $ 6,266 | $ 11,959 | $18,225 | | $ 6,460 | $ 11,867 | $18,327 |
| Undistributed Loss | (2,322) | (4,298) | (6,620) | | (633) | (1,127) | (1,760) |
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| Income from Continuing Operations | $ 3,944 | $ 7,661 | $ 11,605 | | $ 5,827 | $ 10,740 | $16,567 |
| | | | | | | |
| Average Diluted Shares Outstanding | 13,443 | 24,889 | 38,332 | | 13,871 | 24,715 | 38,586 |
| | | | | | | |
Diluted Earnings Per Share from
Continuing Operations | $0.29 | $0.31 | | | $0.42 | $0.43 | |
| | | | | | | |
| Reconciliation of Basic and Diluted EPS from Continuing Operations Calculations: | | | | | | |
Income from Continuing Operations
Used for Basic EPS Calculation | $ 3,923 | $ 7,682 | $ 11,605 | | $ 5,843 | $ 10,724 | $16,567 |
| | | | | | | |
| Assumed Dividends Payable on Dilutive Shares: | | | | | | |
| Stock options | -- | -- | -- | | -- | -- | -- |
| Performance share awards | 57 | 5 | 62 | | -- | 29 | 29 |
| | | | | | | |
Reduction of Undistributed
Earnings - allocated based on Class A
and Class B shares | (36) | (26) | (62) | | (16) | (13) | (29) |
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|
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|
Income from Continuing Operations
Used for Diluted EPS Calculation | $ 3,944 | $ 7,661 | $ 11,605 | | $ 5,827 | $ 10,740 | $16,567 |
| | | | | | | |
Average Shares Outstanding for Basic
EPS Calculation | 13,315 | 24,877 | 38,192 | | 13,591 | 24,546 | 38,137 |
| | | | | | | |
| Dilutive Effect of Average Outstanding: | | | | | | | |
| Stock options | -- | -- | -- | | -- | -- | -- |
| Performance share awards | 124 | 10 | 134 | | -- | 61 | 61 |
| Restricted share units | 4 | 2 | 6 | | 280 | 108 | 388 |
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Average Shares Outstanding for Diluted
EPS Calculation | 13,443 | 24,889 | 38,332 | | 13,871 | 24,715 | 38,586 |
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 2,001,000 average stock options outstanding were antidilutive and were excluded from the dilutive calculation. For the prior year period, all 2,464,000 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 |
| | March 31, 2006 | | March 31, 2005 |
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| Basic: | | | |
| Class A | $0.02 | | $(0.05) |
| Class B | $0.01 | | $(0.05) |
| Diluted: | | | |
| Class A | $0.02 | | $(0.05) |
| Class B | $0.02 | | $(0.04) |
| | | | |
| EARNINGS (LOSS) PER SHARE | (Unaudited) | | (Unaudited) |
| FROM DISCONTINUED OPERATIONS | Nine Months Ended | | Nine Months Ended |
| | March 31, 2006 | | March 31, 2005 |
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| Basic: | | | |
| Class A | $(0.18) | | $(0.11) |
| Class B | $(0.19) | | $(0.11) |
| Diluted: | | | |
| Class A | $(0.18) | | $(0.11) |
| Class B | $(0.19) | | $(0.10) |
| EARNINGS PER SHARE | (Unaudited) | | (Unaudited) |
| FROM CUMULATIVE EFFECT OF CHANGE | Three Months Ended | | Three Months Ended |
| IN ACCOUNTING PRINCIPLE | March 31, 2006 | | March 31, 2005 |
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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 |
| | | | |
| EARNINGS PER SHARE | (Unaudited) | | (Unaudited) |
| FROM CUMULATIVE EFFECT OF CHANGE | Nine Months Ended | | Nine Months Ended |
| IN ACCOUNTING PRINCIPLE | March 31, 2006 | | March 31, 2005 |
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| Basic:p; 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 PER SHARE | (Unaudited) | | (Unaudited) |
| (INCLUDING DISCONTINUED OPERATIONS | Three Months Ended | | Three Months Ended |
| AND CUMULATIVE EFFECT OF CHANGE IN | March 31, 2006 | | March 31, 2005 |
| ACCOUNTING PRINCIPLE) |
| |
|
| (Amounts in Thousands, Except for per Share Data) | Class A | Class B | Total | | Class A | Class B | Total |
| Basic Earnings Per Share: | | | | | | | |
| Dividends Declared | $ 2,030 | $ 3,996 | $ 6,026 | | $ 2,176 | $ 3,954 | $ 6,130 |
| Undistributed Earnings (Loss) | 433 | 830 | 1,263 | | (1,710) | (3,101) | (4,811) |
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| Net Income | $ 2,463 | $ 4,826 | $ 7,289 | | $ 466 | $ 853 | $ 1,319 |
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| Average Basic Shares Outstanding | 13,111 | 25,098 | 38,209 | | 13,562 | 24,590 | 38,152 |
| | | | | | | |
| Basic Earnings Per Share | $0.19 | $0.19 | | | $0.03 | $0.03 | |
| | | | | | | |
| Diluted Earnings Per Share: | | | | | | | |
Dividends Declared and Assumed
Dividends on Dilutive Shares | $ 2,052 | $ 3,998 | $ 6,050 | | $ 2,176 | $ 3,961 | $ 6,137 |
| Undistributed Earnings (Loss) | 429 | 810 | 1,239 | | (1,737) | (3,081) | (4,818) |
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| Net Income | $ 2,481 | $ 4,808 | $ 7,289 | | $ 439 | $ 880 | $ 1,319 |
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| Average Diluted Shares Outstanding | 13,310 | 25,130 | 38,440 | | 13,956 | 24,765 | 38,721 |
| | | | | | | | |
| Diluted Earnings Per Share | $0.19 | $0.19 | | | $0.03 | $0.04 | |
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| EARNINGS PER SHARE | (Unaudited) | | (Unaudited) |
| (INCLUDING DISCONTINUED OPERATIONS | Nine Months Ended | | Nine Months Ended |
| AND CUMULATIVE EFFECT OF CHANGE IN | March 31, 2006 | | March 31, 2005 |
| 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 | $ 6,209 | $ 11,954 | $18,163 | | $ 6,460 | $11,838 | $18,298 |
| Undistributed Earnings (Loss) | (4,603) | (8,600) | (13,203) | | (2,084) | (3,764) | (5,848) |
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| Net Income | $ 1,606 | $ 3,354 | $ 4,960 | | $ 4,376 | $ 8,074 | $12,450 |
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| Average Basic Shares Outstanding | 13,315 | 24,877 | 38,192 | | 13,591 | 24,546 | 38,137 |
| | | | | | | |
| Basic Earnings Per Share | $0.12 | $0.13 | | | $0.32 | $0.33 | |
| | | | | | | |
| Diluted Earnings Per Share: | | | | | | | |
Dividends Declared and Assumed
Dividends on Dilutive Shares | $ 6,266 | $ 11,959 | $ 18,225 | | $ 6,460 | $11,867 | $18,327 |
| Undistributed Earnings (Loss) | (4,652) | (8,613) | (13,265) | | (2,113) | (3,764) | (5,877) |
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| Net Income | $ 1,614 | $ 3,346 | $ 4,960 | | $ 4,347 | $ 8,103 | $12,450 |
| | | | | | | | |
| Average Diluted Shares Outstanding | 13,443 | 24,889 | 38,332 | | 13,871 | 24,715 | 38,586 |
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| Diluted Earnings Per Share | $0.12 | $0.13 | | | $0.31 | $0.33 | |
