EX-11 3 hm123117ex11.htm EXHIBIT 11 Exhibit


Exhibit 11
 
Horace Mann Educators Corporation
Computation of Net Income per Share
For the Years Ended December 31, 2017, 2016 and 2015
(Amounts in thousands, except per share data)
 
 
Year Ended December 31,
 
 
2017
 
2016
 
2015
Basic:
 
 

 
 

 
 

 
 
 
 
 
 
 
Net income
 
$
169,459

 
$
83,765

 
$
93,482

Weighted average number of common shares during the period
 
41,365

 
41,158

 
41,915

 
 
 
 
 
 
 
Net income per share - basic
 
$
4.10

 
$
2.04

 
$
2.23

 
 
 
 
 
 
 
Diluted:
 
 

 
 

 
 

 
 
 
 
 
 
 
Net income
 
$
169,459

 
$
83,765

 
$
93,482

Weighted average number of common shares during the period
 
41,365

 
41,158

 
41,915

Weighted average number of common equivalent shares to reflect
the dilutive effect of common stock equivalent securities:
 
 

 
 

 
 

Stock options
 
112

 
100

 
158

Common stock units related to deferred compensation for employees
 
25

 
52

 
55

Restricted common stock units related to incentive compensation
 
63

 
166

 
297

Total common and common equivalent shares adjusted
to calculate diluted earnings per share
 
41,565

 
41,476

 
42,425

 
 
 
 
 
 
 
Net income per share – diluted
 
$
4.08

 
$
2.02

 
$
2.20

 
 
 
 
 
 
 
Percentage of dilution compared to basic net income per share
 
0.5
%
 
1.0
%
 
1.3
%