Exhibit 11
Horace Mann Educators Corporation
Computation of Net Income per Share (Unaudited)
For the Three Months Ended March 31, 2011 and 2010
(Amounts in thousands, except per share data)
Three Months Ended March 31, | ||||||||
2011 | 2010 | |||||||
Basic – assumes no dilution: | ||||||||
Net income | $ | 25,941 | $ | 22,603 | ||||
Weighted average number of common | 39,749 | 39,206 | ||||||
Net income per share – basic | $ | 0.65 | $ | 0.58 | ||||
Diluted – assumes full dilution: | ||||||||
Net income | $ | 25,941 | $ | 22,603 | ||||
Weighted average number of common | 39,749 | 39,206 | ||||||
Weighted average number of common | ||||||||
Stock options | 304 | 194 | ||||||
Common stock units related to deferred | 92 | 211 | ||||||
Common stock units related to deferred | 195 | 192 | ||||||
Restricted common stock units related to | 1,359 | 1,097 | ||||||
Total common and common equivalent shares | 41,699 | 40,900 | ||||||
Net income per share – diluted | $ | 0.62 | $ | 0.55 | ||||