Exhibit 11
Horace Mann Educators Corporation
Computation of Net Income per Share
For the Three Months Ended March 31, 2001 and 2000
(Amounts in thousands, except per share data)
Three Months Ended
March 31,
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2001 2000
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Basic - assumes no dilution:
Net income for the period $16,698 $12,726
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Weighted average number of common
shares outstanding during the period 40,524 41,156
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Net income per share - basic $ 0.41 $ 0.31
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Diluted - assumes full dilution:
Net income for the period $16,698 $12,726
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Weighted average number of common
shares outstanding during the period 40,524 41,156
Weighted average number of common
equivalent shares to reflect the dilutive
effect of common stock equivalent securities:
Stock options 102 88
Common stock units related to Deferred
Equity Compensation Plan for Directors 107 73
Common stock units related to Deferred
Compensation Plan for Employees 14 8
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Total common and common equivalent
shares adjusted to calculate diluted
earnings per share 40,747 41,325
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Net income per share - diluted $ 0.41 $ 0.31
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Percentage of dilution compared
to basic net income per share 0.0% 0.0%