EX-11 3 d332787dex11.htm EX-11

EX-11

Exhibit 11

Horace Mann Educators Corporation

Computation of Net Income per Share (Unaudited)

For the Three Months Ended March 31, 2012 and 2011

(Amounts in thousands, except per share data)

		Three Months Ended         March 31,
				2012						2011
										As Adjusted
Basic – assumes no dilution:
Net income				$	26,671					$	25,807
Weighted average number of common shares outstanding during the period					39,794						39,749
Net income per share – basic				$	0.67					$	0.65
Diluted – assumes full dilution:
Net income				$	26,671					$	25,807
Weighted average number of common shares outstanding during the period					39,794						39,749
Weighted average number of common equivalent shares to reflect the dilutive effect of common stock equivalent securities:
Stock options					214						304
Common stock units related to deferred compensation for Directors					110						92
Common stock units related to deferred compensation for Employees					116						195
Restricted common stock units related to incentive compensation					1,312						1,359
Total common and common equivalent shares adjusted to calculate diluted earnings per share					41,546						41,699
Net income per share – diluted				$	0.64					$	0.62