EX-11 2 hm123120ex11.htm EX-11
Exhibit 11
Horace Mann Educators Corporation
Computation of Net Income per Share
For the Years Ended December 31, 2020, 2019 and 2018
(Amounts in thousands, except per share data)

|  | Year Ended December 31,
|  | 2020 |  | 2019 |  | 2018
Basic: |  |  |  |  |  |
Net income |  | $ | 133,315 |  |  | $ | 184,443 |  |  | $ | 18,343 |
Weighted average number of common shares during the period |  | 41,881 |  |  | 41,738 |  |  | 41,570 |
Net income per share - basic |  | $ | 3.18 |  |  | $ | 4.42 |  |  | $ | 0.44 |
Diluted: |  |  |  |  |  |
Net income |  | $ | 133,315 |  |  | $ | 184,443 |  |  | $ | 18,343 |
Weighted average number of common shares during the period |  | 41,881 |  |  | 41,738 |  |  | 41,570 |
Weighted average number of common equivalent shares to reflect the dilutive effect of common stock equivalent securities: |  |  |  |  |  |
Stock options |  | 44 |  |  | 79 |  |  | 100 |
Common stock units related to deferred compensation for employees |  | — |  |  | — |  |  | 25 |
Restricted common stock units related to incentive compensation |  | 116 |  |  | 132 |  |  | 199 |
Total common and common equivalent shares adjusted to calculate diluted earnings per share |  | 42,041 |  |  | 41,949 |  |  | 41,894 |
Net income per share – diluted |  | $ | 3.17 |  |  | $ | 4.40 |  |  | $ | 0.44 |
Percentage of dilution compared to basic net income per share |  | 0.3 | % |  | 0.5 | % |  | — | %