EX-11 3 a63019ex11.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, 2019 and 2018
($ in thousands, except per share data)

|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2019 |  | 2018 |  | 2019 |  | 2018
Basic: |  |  |  |  |  |  |  |
Net income |  | $ | 93,822 |  |  | $ | 5,917 |  |  | $ | 125,988 |  |  | $ | 26,072 |
Weighted average number of common shares during the period (in thousands) |  | 41,762 |  |  | 41,600 |  |  | 41,685 |  |  | 41,531 |
Net income per share – basic |  | $ | 2.25 |  |  | $ | 0.14 |  |  | $ | 3.02 |  |  | $ | 0.63 |
Diluted: |  |  |  |  |  |  |  |
Net income |  | $ | 93,822 |  |  | $ | 5,917 |  |  | $ | 125,988 |  |  | $ | 26,072 |
Weighted average number of common shares during the period |  | 41,762 |  |  | 41,600 |  |  | 41,685 |  |  | 41,531 |
Weighted average number of common equivalent shares to reflect the dilutive effect of common stock equivalent securities: |  |  |  |  |  |  |  |
Stock options |  | 61 |  |  | 115 |  |  | 64 |  |  | 109 |
Common stock units related to deferred compensation for employees |  | — |  |  | 25 |  |  | — |  |  | 25 |
Restricted common stock units related to incentive compensation |  | 98 |  |  | (5 | ) |  | 102 |  |  | (6 | )
Total common and common equivalent shares adjusted to calculate diluted earnings per share |  | 41,921 |  |  | 41,735 |  |  | 41,851 |  |  | 41,659 |
Net income per share – diluted |  | $ | 2.24 |  |  | $ | 0.14 |  |  | $ | 3.01 |  |  | $ | 0.63 |