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 |