EX-11 4 d516070dex11.htm EX-11

Exhibit 11

Horace Mann Educators Corporation

Computation of Net Income per Share (Unaudited)

For the Three Months Ended March 31, 2013 and 2012

(Amounts in thousands, except per share data)

|  | Three Months Ended March 31, |
|  | 2013 |  |  | 2012 |
Basic – assumes no dilution: |  |  |  |  |  |  |  |
Net income |  | $ | 27,012 |  |  | $ | 26,671 |
Weighted average number of common shares outstanding during the period |  |  | 39,527 |  |  |  | 39,794 |
Net income per share – basic |  | $ | 0.68 |  |  | $ | 0.67 |
Diluted – assumes full dilution: |  |  |  |  |  |  |  |
Net income |  | $ | 27,012 |  |  | $ | 26,671 |
Weighted average number of common shares outstanding during the period |  |  | 39,527 |  |  |  | 39,794 |
Weighted average number of common equivalent shares to reflect the dilutive effect of common stock equivalent securities: |  |  |  |  |  |  |  |
Stock options |  |  | 402 |  |  |  | 214 |
Common stock units related to deferred compensation for Directors |  |  | 101 |  |  |  | 110 |
Common stock units related to deferred compensation for Employees |  |  | 117 |  |  |  | 116 |
Restricted common stock units related to incentive compensation |  |  | 941 |  |  |  | 1,312 |
Total common and common equivalent shares adjusted to calculate diluted earnings per share |  |  | 41,088 |  |  |  | 41,546 |
Net income per share – diluted |  | $ | 0.66 |  |  | $ | 0.64 |