EX-11 2 d398235dex11.htm EX-11

EX-11

Exhibit 11

Horace Mann Educators Corporation

Computation of Net Income per Share (Unaudited)

For the Three and Nine Months Ended September 30, 2012 and 2011

(Amounts in thousands, except per share data)

		Three Months Ended								Nine Months Ended
		September 30,								September 30,
		2012				2011				2012				2011
						As Adjusted								As Adjusted
Basic – assumes no dilution:
Net income		$	32,266			$	23,637			$	72,040			$	37,593
Weighted average number of common shares outstanding during the period			39,381				39,919				39,572				39,854
Net income per share – basic		$	0.82			$	0.59			$	1.82			$	0.94
Diluted – assumes full dilution:
Net income		$	32,266			$	23,637			$	72,040			$	37,593
Weighted average number of common shares outstanding during the period			39,381				39,919				39,572				39,854
Weighted average number of common equivalent shares to reflect the dilutive effect of common stock equivalent securities:
Stock options			244				162				210				231
Common stock units related to deferred compensation for Directors			111				112				111				112
Common stock units related to deferred compensation for Employees			117				114				117				114
Restricted common stock units related to incentive compensation			1,285				1,144				1,285				1,144
Total common and common equivalent shares adjusted to calculate diluted earnings per share			41,138				41,451				41,295				41,455
Net income per share – diluted		$	0.78			$	0.57			$	1.74			$	0.91