Horace Mann Educators (HMN) 10-Q 2016 Q3 Quarterly report

Exhibit 11

Horace Mann Educators Corporation

Computation of Net Income per Share (Unaudited)

For the Three and Nine Months Ended September 30, 2016 and 2015

(Amounts in thousands, except per share data)

	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2016		2015		2016		2015
Basic:
Net income	$	26,923	$	21,984	$	63,942	$	72,442
Weighted average number of common
shares during the period		41,092		41,852		41,155		41,965
Net income per share – basic	$	0.66	$	0.53	$	1.55	$	1.73
Diluted:
Net income	$	26,923	$	21,984	$	63,942	$	72,442
Weighted average number of common
shares during the period		41,092		41,852		41,155		41,965
Weighted average number of common
equivalent shares to reflect the dilutive effect
of common stock equivalent securities:
Stock options		117		154		98		149
Common stock units related to deferred
compensation for employees		55		57		55		57
Restricted common stock units related
to incentive compensation		83		242		78		191
Total common and common equivalent shares
adjusted to calculate diluted earnings
per share		41,347		42,305		41,386		42,362
Net income per share – diluted	$	0.65	$	0.52	$	1.55	$	1.71