EX-11 2 a93020ex11.htm EX-11
Exhibit 11
Horace Mann Educators Corporation
Computation of Net Income per Share (Unaudited)
For the Three and Nine Months Ended September 30, 2020 and 2019
($ in thousands, except per share data)

|  | Three Months Ended September 30, |  | Nine Months Ended September 30,
|  | 2020 |  | 2019 |  | 2020 |  | 2019
Basic: |  |  |  |  |  |  |  |
Net income |  | $ | 36,474 |  |  | $ | 25,454 |  |  | $ | 85,524 |  |  | $ | 151,442 |
Weighted average number of common shares during the period (in thousands) |  | 41,916 |  |  | 41,785 |  |  | 41,865 |  |  | 41,715 |
Net income per share – basic |  | $ | 0.87 |  |  | $ | 0.61 |  |  | $ | 2.04 |  |  | $ | 3.63 |
Diluted: |  |  |  |  |  |  |  |
Net income |  | $ | 36,474 |  |  | $ | 25,454 |  |  | $ | 85,524 |  |  | $ | 151,442 |
Weighted average number of common shares during the period |  | 41,916 |  |  | 41,785 |  |  | 41,865 |  |  | 41,715 |
Weighted average number of common equivalent shares to reflect the dilutive effect of common stock equivalent securities: |  |  |  |  |  |  |  |
Stock options |  | 33 |  |  | 100 |  |  | 45 |  |  | 80 |
Common stock units related to deferred compensation for employees |  | — |  |  | — |  |  | — |  |  |
Restricted common stock units related to incentive compensation |  | 109 |  |  | 145 |  |  | 103 |  |  | 116 |
Total common and common equivalent shares adjusted to calculate diluted earnings per share |  | 42,058 |  |  | 42,030 |  |  | 42,013 |  |  | 41,911 |
Net income per share – diluted |  | $ | 0.87 |  |  | $ | 0.60 |  |  | $ | 2.03 |  |  | $ | 3.61 |