Exhibit 11
Horace Mann Educators Corporation
Computation of Net Income per Share (Unaudited)
For the Three and Nine Months Ended September 30, 2017 and 2016
($ in thousands, except per share data)
Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
2017 | 2016 | 2017 | 2016 | |||||||||||||
Basic: | ||||||||||||||||
Net income | $ | 26,551 | $ | 26,923 | $ | 44,130 | $ | 63,942 | ||||||||
Weighted average number of common shares during the period (in thousands) | 41,433 | 41,092 | 41,337 | 41,155 | ||||||||||||
Net income per share – basic | $ | 0.64 | $ | 0.66 | $ | 1.07 | $ | 1.55 | ||||||||
Diluted: | ||||||||||||||||
Net income | $ | 26,551 | $ | 26,923 | $ | 44,130 | $ | 63,942 | ||||||||
Weighted average number of common shares during the period | 41,433 | 41,092 | 41,337 | 41,155 | ||||||||||||
Weighted average number of common equivalent shares to reflect the dilutive effect of common stock equivalent securities: | ||||||||||||||||
Stock options | 84 | 117 | 119 | 98 | ||||||||||||
Common stock units related to deferred compensation for employees | 27 | 55 | 27 | 55 | ||||||||||||
Restricted common stock units related to incentive compensation | 31 | 83 | (16 | ) | 78 | |||||||||||
Total common and common equivalent shares adjusted to calculate diluted earnings per share | 41,575 | 41,347 | 41,467 | 41,386 | ||||||||||||
Net income per share – diluted | $ | 0.64 | $ | 0.65 | $ | 1.06 | $ | 1.55 |