Exhibit 11
KIMBALL INTERNATIONAL, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE
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| | | | | | | | | | | | | | | | | | | | | | | |
| (Unaudited) | Three Months Ended | | Three Months Ended |
| (Amounts in Thousands, Except for Per Share Data) | March 31, 2011 | | March 31, 2010 |
| | Class A | | Class B | | Total | | Class A | | Class B | | Total |
| Basic Earnings Per Share: | | | | | | | | | | | |
| Dividends Declared | $ | 470 | | | $ | 1,365 | | | $ | 1,835 | | | $ | 502 | | | $ | 1,358 | | | $ | 1,860 | |
| Undistributed Earnings | 407 | | | 1,064 | | | 1,471 | | | 1,278 | | | 3,192 | | | 4,470 | |
| Net Income | $ | 877 | | | $ | 2,429 | | | $ | 3,306 | | | $ | 1,780 | | | $ | 4,550 | | | $ | 6,330 | |
| Average Basic Shares Outstanding | 10,455 | | | 27,291 | | | 37,746 | | | 10,745 | | | 26,828 | | | 37,573 | |
| Basic Earnings Per Share | $ | 0.08 | | | $ | 0.09 | | | | | $ | 0.17 | | | $ | 0.17 | | | |
| Diluted Earnings Per Share: | | | | | | | | | | | |
| Dividends Declared and Assumed Dividends on Dilutive Shares | $ | 475 | | | $ | 1,365 | | | $ | 1,840 | | | $ | 505 | | | $ | 1,358 | | | $ | 1,863 | |
| Undistributed Earnings | 409 | | | 1,057 | | | 1,466 | | | 1,282 | | | 3,185 | | | 4,467 | |
| Net Income | $ | 884 | | | $ | 2,422 | | | $ | 3,306 | | | $ | 1,787 | | | $ | 4,543 | | | $ | 6,330 | |
| Average Diluted Shares Outstanding | 10,553 | | | 27,292 | | | 37,845 | | | 10,802 | | | 26,831 | | | 37,633 | |
| Diluted Earnings Per Share | $ | 0.08 | | | $ | 0.09 | | | | | $ | 0.17 | | | $ | 0.17 | | | |
| Reconciliation of Basic and Diluted EPS Calculations: | | | | | | | | | | | |
| Net Income Used for Basic EPS Calculation | $ | 877 | | | $ | 2,429 | | | $ | 3,306 | | | $ | 1,780 | | | $ | 4,550 | | | $ | 6,330 | |
| Assumed Dividends Payable on Dilutive Shares: | | | | | | | | | | | |
| Performance shares | 5 | | | — | | | 5 | | | 3 | | | — | | | 3 | |
| Increase (Reduction) of Undistributed Earnings - allocated based on Class A and Class B shares | 2 | | | (7 | ) | | (5 | ) | | 4 | | | (7 | ) | | (3 | ) |
| Net Income Used for Diluted EPS Calculation | $ | 884 | | | $ | 2,422 | | | $ | 3,306 | | | $ | 1,787 | | | $ | 4,543 | | | $ | 6,330 | |
| Average Shares Outstanding for Basic EPS Calculation | 10,455 | | | 27,291 | | | 37,746 | | | 10,745 | | | 26,828 | | | 37,573 | |
| Dilutive Effect of Average Outstanding: | | | | | | | | | | | |
| Performance shares | 98 | | | 1 | | | 99 | | | 57 | | | 3 | | | 60 | |
| Average Shares Outstanding for Diluted EPS Calculation | 10,553 | | | 27,292 | | | 37,845 | | | 10,802 | | | 26,831 | | | 37,633 | |
All of the 620,000 and 680,000 average outstanding stock options were antidilutive and were excluded from the dilutive calculation for the quarters ended March 31, 2011 and 2010, respectively.
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| | | | | | | | | | | | | | | | | | | | | | | |
| (Unaudited) | Nine Months Ended | | Nine Months Ended |
| (Amounts in Thousands, Except for Per Share Data) | March 31, 2011 | | March 31, 2010 |
| | Class A | | Class B | | Total | | Class A | | Class B | | Total |
| Basic Earnings Per Share: | | | | | | | | | | | |
| Dividends Declared | $ | 1,420 | | | $ | 4,082 | | | $ | 5,502 | | | $ | 1,481 | | | $ | 4,022 | | | $ | 5,503 | |
| Less: Unvested Participating Dividends | — | | | — | | | — | | | (9 | ) | | — | | | (9 | ) |
| Dividends to Common Share Owners | 1,420 | | | 4,082 | | | 5,502 | | | 1,472 | | | 4,022 | | | 5,494 | |
| Undistributed Earnings (Loss) | | | | | (864 | ) | | | | | | 4,507 | |
| Less: Earnings (Loss) Allocated to Participating Securities | | | | | — | | | | | | | (8 | ) |
| Undistributed Earnings (Loss) Allocated to Common Share Owners | (241 | ) | | (623 | ) | | (864 | ) | | 1,287 | | | 3,212 | | | 4,499 | |
| Net Income Available to Common Share Owners | $ | 1,179 | | | $ | 3,459 | | | $ | 4,638 | | | $ | 2,759 | | | $ | 7,234 | | | $ | 9,993 | |
| Average Basic Common Shares Outstanding | 10,513 | | | 27,205 | | | 37,718 | | | 10,702 | | | 26,706 | | | 37,408 | |
| Basic Earnings Per Share | $ | 0.11 | | | $ | 0.13 | | | | | $ | 0.26 | | | $ | 0.27 | | | |
| Diluted Earnings Per Share: | | | | | | | | | | | |
| Dividends Declared and Assumed Dividends on Dilutive Shares | $ | 1,439 | | | $ | 4,082 | | | $ | 5,521 | | | $ | 1,493 | | | $ | 4,023 | | | $ | 5,516 | |
| Less: Unvested Participating Dividends | — | | | — | | | — | | | (9 | ) | | — | | | (9 | ) |
| Dividends and Assumed Dividends to Common Share Owners | 1,439 | | | 4,082 | | | 5,521 | | | 1,484 | | | 4,023 | | | 5,507 | |
| Undistributed Earnings (Loss) | | | | | (883 | ) | | | | | | 4,494 | |
| Less: Earnings (Loss) Allocated to Participating Securities | | | | | — | | | | | | | (8 | ) |
| Undistributed Earnings (Loss) Allocated to Common Share Owners | (248 | ) | | (635 | ) | | (883 | ) | | 1,291 | | | 3,195 | | | 4,486 | |
| Net Income Available to Common Share Owners | $ | 1,191 | | | $ | 3,447 | | | $ | 4,638 | | | $ | 2,775 | | | $ | 7,218 | | | $ | 9,993 | |
| Average Diluted Common Shares Outstanding | 10,650 | | | 27,206 | | | 37,856 | | | 10,789 | | | 26,710 | | | 37,499 | |
| Diluted Earnings Per Share | $ | 0.11 | | | $ | 0.13 | | | | | $ | 0.26 | | | $ | 0.27 | | | |
| Reconciliation of Basic and Diluted EPS Calculations: | | | | | | | | | | | |
| Net Income Used for Basic EPS Calculation | $ | 1,179 | | | $ | 3,459 | | | $ | 4,638 | | | $ | 2,759 | | | $ | 7,234 | | | $ | 9,993 | |
| Assumed Dividends Payable on Dilutive Shares: | | | | | | | | | | | |
| Performance shares | 19 | | | — | | | 19 | | | 12 | | | 1 | | | 13 | |
| Increase (Reduction) of Undistributed Earnings (Loss) - allocated based on Class A and Class B shares | (7 | ) | | (12 | ) | | (19 | ) | | 4 | | | (17 | ) | | (13 | ) |
| Net Income Used for Diluted EPS Calculation | $ | 1,191 | | | $ | 3,447 | | | $ | 4,638 | | | $ | 2,775 | | | $ | 7,218 | | | $ | 9,993 | |
| Average Shares Outstanding for Basic EPS Calculation | 10,513 | | | 27,205 | | | 37,718 | | | 10,702 | | | 26,706 | | | 37,408 | |
| Dilutive Effect of Average Outstanding: | | | | | | | | | | | |
| Performance shares | 137 | | | 1 | | | 138 | | | 87 | | | 4 | | | 91 | |
| Average Shares Outstanding for Diluted EPS Calculation | 10,650 | | | 27,206 | | | 37,856 | | | 10,789 | | | 26,710 | | | 37,499 | |
All of the 627,000 and 704,000 average stock options outstanding were antidilutive and were excluded from the dilutive calculation for the nine months ended March 31, 2011 and 2010, respectively.
