Income from Continuing Operations Per Unrestricted Share

3 Months Ended

Mar. 31, 2019

Income (Loss) from Continuing Operations Per Unrestricted Share

Note 7 - Income from Continuing Operations Per Unrestricted Share

The Company’s awards of deferred stock units contain rights to receive non-forfeitable dividend equivalents and participate in the undistributed earnings with common shareholders, as did the Company’s awards of restricted stock units and performance share units prior to 2018. 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 three months ended March 31, 2019 and 2018 is presented below.



	Three Months Ended
	Mar 31, 2019		Mar 31, 2018
(Dollars in Millions)
Income from Continuing Operations	$	155.3	$	53.6
Less Income from Continuing Operations Attributed to Participating Awards	0.7		0.5
Income from Continuing Operations Attributed to Unrestricted Shares	154.6		53.1
Diluted Income from Continuing Operations Attributed to Unrestricted Shares	$	154.6	$	53.1
(Number of Shares in Thousands)
Weighted-average Unrestricted Shares Outstanding	64,815.0		51,502.9
Equity-based Compensation Equivalent Shares	791.0		365.3
Weighted-average Unrestricted Shares and Equivalent Shares Outstanding Assuming Dilution	65,606.0		51,868.2
(Per Unrestricted Share in Whole Dollars)
Basic Income from Continuing Operations Per Unrestricted Share	$	2.38	$	1.03
Diluted Income from Continuing Operations Per Unrestricted Share	$	2.35	$	1.02

Note 7 - Income from Continuing Operations Per Unrestricted Share (continued)

The number of shares of Kemper common stock that were excluded from the calculations of Equity-based Compensation Equivalent Shares and Weighted-average Unrestricted Shares and Equivalent Shares Outstanding Assuming Dilution for the three months and three months ended March 31, 2019 and 2018, because the effect of inclusion would be anti-dilutive, is presented below.

Three Months Ended

(Number of Shares in Thousands)

Mar 31,
2019

Mar 31,
2018

Equity-based Compensation Equivalent Shares

Weighted-average Unrestricted Shares and Equivalent Shares Outstanding Assuming Dilution