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Income from Continuing Operations Per Unrestricted Share
9 Months Ended
Sep. 30, 2011
Earnings Per Share [Abstract] 
Income from Continuing Operations Per Unrestricted Share
Note 7 - Income from Continuing Operations Per Unrestricted Share
The Company’s awards of restricted stock contain a right to receive non-forfeitable dividends and participate in the undistributed earnings with common shareholders. Accordingly, the Company is required to apply the two-class method of computing basic and diluted earnings per share. A reconciliation of the numerator and denominator used in the calculation of Basic Income from Continuing Operations Per Unrestricted Share and Diluted Income from Continuing Operations Per Unrestricted Share for the nine and three months ended September 30, 2011 and 2010 is as follows:

 
 
Nine Months Ended
 
Three Months Ended
 
 
Sep 30,
2011
 
Sep 30,
2010
 
Sep 30,
2011
 
Sep 30,
2010
(Dollars in Millions)
 
 
 
 
 
 
 
 
Income from Continuing Operations
 
$
44.8

 
$
113.4

 
$
3.8

 
$
32.3

Less Income from Continuing Operations Attributed to Restricted Shares
 
0.2

 
0.6

 
—

 
0.2

Income from Continuing Operations Attributed to Unrestricted Shares
 
44.6

 
112.8

 
3.8

 
32.1

Dilutive Effect on Income of Kemper Share-based Compensation Equivalent Shares
 
—

 
—

 
—

 
—

Diluted Income from Continuing Operations Attributed to Unrestricted Shares
 
$
44.6

 
$
112.8

 
$
3.8

 
$
32.1

(Shares in Thousands)
 
 
 
 
 
 
 
 
Weighted-Average Unrestricted Shares Outstanding
 
60,312.6

 
61,865.9

 
60,141.4

 
61,457.8

Kemper Share-based Compensation Equivalent Shares
 
106.2

 
88.5

 
88.0

 
85.4

Weighted-Average Unrestricted Shares and Equivalent Shares Outstanding Assuming Dilution
 
60,418.8

 
61,954.4

 
60,229.4

 
61,543.2

(Per Unrestricted Share in Whole Dollars)
 
 
 
 
 
 
 
 
Basic Income from Continuing Operations Per Unrestricted Share
 
$
0.74

 
$
1.83

 
$
0.06

 
$
0.52

Diluted Income from Continuing Operations Per Unrestricted Share
 
$
0.74

 
$
1.82

 
$
0.06

 
$
0.52



Options outstanding to purchase 3.4 million and 3.3 million shares of Kemper common stock were excluded from the computation of Kemper Share-based Compensation Equivalent Shares and Weighted-Average Unrestricted Shares and Equivalent Shares Outstanding Assuming Dilution for the nine and three months ended September 30, 2011, respectively, because their exercise prices exceeded the average market price. Options outstanding to purchase 4.3 million and 4.1 million shares of Kemper common stock were excluded from the computation of Kemper Share-based Compensation Equivalent Shares and Weighted-Average Unrestricted Shares and Equivalent Shares Outstanding Assuming Dilution for the nine and three months ended September 30, 2010, respectively, because their exercise prices exceeded the average market price.