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Income from Continuing Operations Per Unrestricted Share
12 Months Ended
Dec. 31, 2019
Earnings Per Share [Abstract]  
Income from Continuing Operations Per Unrestricted Share 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 years ended December 31, 2019, 2018 and 2017 is presented below.
 
 
2019
 
2018
 
2017
DOLLARS IN MILLIONS
 
 
 
 
 
 
Income from Continuing Operations
 
$
531.1

 
$
188.4

 
$
119.9

Less Income from Continuing Operations Attributed to Participating Awards
 
1.7

 
1.0

 
0.8

Income from Continuing Operations Attributed to Unrestricted Shares
 
529.4

 
187.4

 
119.1

Dilutive Effect on Income of Equity-based Compensation Equivalent Shares
 

 

 

Diluted Income from Continuing Operations Attributed to Unrestricted Shares
 
$
529.4

 
$
187.4

 
$
119.1

SHARES IN THOUSANDS
 
 
 
 
 
 
Weighted-average Unrestricted Shares Outstanding
 
65,880.9

 
58,149.4

 
51,345.6

Equity-based Compensation Equivalent Shares
 
667.2

 
602.5

 
232.3

Weighted-average Unrestricted Shares and Equivalent Shares Outstanding Assuming Dilution
 
66,548.1

 
58,751.9

 
51,577.9

PER UNRESTRICTED SHARE IN WHOLE DOLLARS
 
 
 
 
 
 
Basic Income from Continuing Operations Per Unrestricted Share
 
$
8.04

 
$
3.22

 
$
2.32

Diluted Income from Continuing Operations Per Unrestricted Share
 
$
7.96

 
$
3.19

 
$
2.31



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 years ended December 31, 2019, 2018 and 2017, because the effect of inclusion would be anti-dilutive, is presented below.
SHARES IN THOUSANDS
 
2019
 
2018
 
2017
Equity-based Compensation Equivalent Shares
 
556.4

 
231.3

 
346.6

Weighted-average Unrestricted Shares and Equivalent Shares Outstanding Assuming Dilution
 
556.4

 
231.3

 
346.6