Horace Mann Educators (HMN) 10-Q 2018 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, 2018 and 2017

($ in thousands, except per share data)

	Three Months Ended September 30,				Nine Months Ended September 30,
	2018		2017		2018		2017
Basic:
Net income	$	12,528	$	26,551	$	38,600	$	44,130
Weighted average number of common shares during the period (in thousands)	41,683		41,433		41,586		41,337
Net income per share – basic	$	0.30	$	0.64	$	0.93	$	1.07
Diluted:
Net income	$	12,528	$	26,551	$	38,600	$	44,130
Weighted average number of common shares during the period	41,683		41,433		41,586		41,337
Weighted average number of common equivalent shares to reflect the dilutive effect of common stock equivalent securities:
Stock options	116		84		108		119
Common stock units related to deferred compensation for employees	25		27		25		27
Restricted common stock units related to incentive compensation	26		31		8		(16		)
Total common and common equivalent shares adjusted to calculate diluted earnings per share	41,850		41,575		41,727		41,467
Net income per share – diluted	$	0.30	$	0.64	$	0.93	$	1.06