Horace Mann Educators (HMN) 10-Q 2019 Q2 Quarterly report

Exhibit 11

Horace Mann Educators Corporation

Computation of Net Income per Share (Unaudited)

For the Three and Six Months Ended June 30, 2019 and 2018

($ in thousands, except per share data)

	Three Months Ended June 30,					Six Months Ended June 30,
	2019		2018			2019		2018
Basic:
Net income	$	93,822	$	5,917		$	125,988	$	26,072
Weighted average number of common shares during the period (in thousands)	41,762		41,600			41,685		41,531
Net income per share – basic	$	2.25	$	0.14		$	3.02	$	0.63
Diluted:
Net income	$	93,822	$	5,917		$	125,988	$	26,072
Weighted average number of common shares during the period	41,762		41,600			41,685		41,531
Weighted average number of common equivalent shares to reflect the dilutive effect of common stock equivalent securities:
Stock options	61		115			64		109
Common stock units related to deferred compensation for employees	—		25			—		25
Restricted common stock units related to incentive compensation	98		(5		)	102		(6		)
Total common and common equivalent shares adjusted to calculate diluted earnings per share	41,921		41,735			41,851		41,659
Net income per share – diluted	$	2.24	$	0.14		$	3.01	$	0.63