EX-11 2 a93017ex11.htm EXHIBIT 11
Exhibit 11
Horace Mann Educators Corporation
Computation of Net Income per Share (Unaudited)
For the Three and Nine Months Ended September 30, 2017 and 2016
($ in thousands, except per share data)

|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2017 |  | 2016 |  | 2017 |  | 2016
Basic: |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 26,551 |  |  | $ | 26,923 |  |  | $ | 44,130 |  |  | $ | 63,942 |
Weighted average number of common shares during the period (in thousands) |  | 41,433 |  |  | 41,092 |  |  | 41,337 |  |  | 41,155 |
Net income per share – basic |  | $ | 0.64 |  |  | $ | 0.66 |  |  | $ | 1.07 |  |  | $ | 1.55 |
Diluted: |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 26,551 |  |  | $ | 26,923 |  |  | $ | 44,130 |  |  | $ | 63,942 |
Weighted average number of common shares during the period |  | 41,433 |  |  | 41,092 |  |  | 41,337 |  |  | 41,155 |
Weighted average number of common equivalent shares to reflect the dilutive effect of common stock equivalent securities: |  |  |  |  |  |  |  |  |  |
Stock options |  | 84 |  |  | 117 |  |  | 119 |  |  | 98 |
Common stock units related to deferred compensation for employees |  | 27 |  |  | 55 |  |  | 27 |  |  | 55 |
Restricted common stock units related to incentive compensation |  | 31 |  |  | 83 |  |  | (16 | ) |  | 78 |
Total common and common equivalent shares adjusted to calculate diluted earnings per share |  | 41,575 |  |  | 41,347 |  |  | 41,467 |  |  | 41,386 |
Net income per share – diluted |  | $ | 0.64 |  |  | $ | 0.65 |  |  | $ | 1.06 |  |  | $ | 1.55 |