Horace Mann Educators (HMN) 10-Q 2019 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, 2019 and 2018

($ in thousands, except per share data)

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Basic:
Net income	$	25,454	$	12,528	$	151,442	$	38,600
Weighted average number of common shares during the period (in thousands)	41,785		41,683		41,715		41,586
Net income per share – basic	$	0.61	$	0.30	$	3.63	$	0.93
Diluted:
Net income	$	25,454	$	12,528	$	151,442	$	38,600
Weighted average number of common shares during the period	41,785		41,683		41,715		41,586
Weighted average number of common equivalent shares to reflect the dilutive effect of common stock equivalent securities:
Stock options	100		116		80		108
Common stock units related to deferred compensation for employees	—		25		—		25
Restricted common stock units related to incentive compensation	145		26		116		8
Total common and common equivalent shares adjusted to calculate diluted earnings per share	42,030		41,850		41,911		41,727
Net income per share – diluted	$	0.60	$	0.30	$	3.61	$	0.93