Horace Mann Educators (HMN) 10-Q 2016 Q1 Quarterly report

Exhibit 11

Horace Mann Educators Corporation

Computation of Net Income per Share (Unaudited)

For the Three Months Ended March 31, 2016 and 2015

(Amounts in thousands, except per share data)

	Three Months Ended
	March 31,
	2016		2015
Basic:
Net income	$	25,153	$	34,275
Weighted average number of common shares during the period		41,297		41,950
Net income per share – basic	$	0.61	$	0.82
Diluted:
Net income	$	25,153	$	34,275
Weighted average number of common shares during the period		41,297		41,950
Weighted average number of common equivalent shares to reflect the dilutive effect of common stock equivalent securities:
Stock options		95		144
Common stock units related to deferred compensation for employees		56		58
Restricted common stock units related to incentive compensation		44		148
Total common and common equivalent shares adjusted to calculate diluted earnings per share		41,492		42,300
Net income per share – diluted	$	0.61	$	0.81