EX-11 2 hm123121ex11.htm EX-11
Exhibit 11
Horace Mann Educators Corporation
Computation of Net Income per Share
For the Years Ended December 31, 2021, 2020 and 2019
(in millions, except per share data)

|  | Year Ended December 31,
|  | 2021 |  | 2020 |  | 2019
Basic: |  |  |  |  |  |
Net income |  | $ | 142.8 |  |  | $ | 133.3 |  |  | $ | 184.4 |
Weighted average number of common shares during the period |  | 42.0 |  |  | 41.9 |  |  | 41.7 |
Net income per share - basic |  | $ | 3.40 |  |  | $ | 3.18 |  |  | $ | 4.42 |
Diluted: |  |  |  |  |  |
Net income |  | $ | 142.8 |  |  | $ | 133.3 |  |  | $ | 184.4 |
Weighted average number of common shares during the period |  | 42.0 |  |  | 41.9 |  |  | 41.7 |
Weighted average number of common equivalent shares to reflect the dilutive effect of common stock equivalent securities: |  |  |  |  |  |
Stock options |  | — |  |  | — |  |  | 0.1 |
Common stock units related to deferred compensation for employees |  | — |  |  | — |  |  | — |
Restricted common stock units related to incentive compensation |  | 0.2 |  |  | 0.1 |  |  | 0.1 |
Total common and common equivalent shares adjusted to calculate diluted earnings per share |  | 42.2 |  |  | 42.0 |  |  | 41.9 |
Net income per share – diluted |  | $ | 3.39 |  |  | $ | 3.17 |  |  | $ | 4.40 |
Percentage of dilution compared to basic net income per share |  | 0.3 | % |  | 0.3 | % |  | 0.5 | %