EX-11 2 a63018ex11.htm EXHIBIT 11
Exhibit 11
Horace Mann Educators Corporation
Computation of Net Income per Share (Unaudited)
For the Three and Six Months Ended June 30, 2018 and 2017
($ in thousands, except per share data)

|  | Three Months Ended June 30, 2018 |  | Six Months Ended June 30, 2018
|  | 2018 |  | 2017 |  | 2018 |  | 2017
Basic: |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 5,917 |  |  | $ | 2,261 |  |  | $ | 26,072 |  |  | $ | 17,579 |
Weighted average number of common shares during the period (in thousands) |  | 41,600 |  |  | 41,368 |  |  | 41,531 |  |  | 41,268 |
Net income per share – basic |  | $ | 0.14 |  |  | $ | 0.05 |  |  | $ | 0.63 |  |  | $ | 0.43 |
Diluted: |  |  |  |  |  |  |  |  |  |
Net income |  | $ | 5,917 |  |  | $ | 2,261 |  |  | $ | 26,072 |  |  | $ | 17,579 |
Weighted average number of common shares during the period |  | 41,600 |  |  | 41,368 |  |  | 41,531 |  |  | 41,268 |
Weighted average number of common equivalent shares to reflect the dilutive effect of common stock equivalent securities: |  |  |  |  |  |  |  |  |  |
Stock options |  | 115 |  |  | 123 |  |  | 109 |  |  | 142 |
Common stock units related to deferred compensation for employees |  | 25 |  |  | 29 |  |  | 25 |  |  | 29 |
Restricted common stock units related to incentive compensation |  | (5 | ) |  | (27 | ) |  | (6 | ) |  | (23 | )
Total common and common equivalent shares adjusted to calculate diluted earnings per share |  | 41,735 |  |  | 41,493 |  |  | 41,659 |  |  | 41,416 |
Net income per share – diluted |  | $ | 0.14 |  |  | $ | 0.05 |  |  | $ | 0.63 |  |  | $ | 0.42 |