Horace Mann Educators (HMN) 10-Q 2015 Q1 Quarterly report

Exhibit 11

Horace Mann Educators Corporation

Computation of Net Income per Share (Unaudited)

For the Three Months Ended March 31, 2015 and 2014

(Amounts in thousands, except per share data)

	Three Months Ended
	March 31,
	2015		2014
Basic:
Net income	$	34,275	$	28,366
Weighted average number of common shares during the period		41,950		41,180
Net income per share – basic	$	0.82	$	0.69
Diluted:
Net income	$	34,275	$	28,366
Weighted average number of common shares during the period		41,950		41,180
Weighted average number of common equivalent shares to reflect the dilutive effect of common stock equivalent securities:
Stock options		144		218
Common stock units related to deferred compensation for employees		58		113
Restricted common stock units related to incentive compensation		148		748
Total common and common equivalent shares adjusted to calculate diluted earnings per share		42,300		42,259
Net income per share – diluted	$	0.81	$	0.67