Income from Continuing Operations Per Unrestricted Share

12 Months Ended

Dec. 31, 2020

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, 2020, 2019 and 2018 is presented below.


	2020		2019		2018
DOLLARS IN MILLIONS
Income from Continuing Operations	$	409.9	$	531.1	$	188.4
Less Income from Continuing Operations Attributed to Participating Awards	0.4		1.7		1.0
Income from Continuing Operations Attributed to Unrestricted Shares	409.5		529.4		187.4
Dilutive Effect on Income of Equity-based Compensation Equivalent Shares	—		—		—
Diluted Income from Continuing Operations Attributed to Unrestricted Shares	$	409.5	$	529.4	$	187.4
SHARES IN THOUSANDS
Weighted-average Unrestricted Shares Outstanding	65,636.1		65,880.9		58,149.4
Equity-based Compensation Equivalent Shares	1,093.7		667.2		602.5
Weighted-average Unrestricted Shares and Equivalent Shares Outstanding Assuming Dilution	66,729.8		66,548.1		58,751.9
PER UNRESTRICTED SHARE IN WHOLE DOLLARS
Basic Income from Continuing Operations Per Unrestricted Share	$	6.24	$	8.04	$	3.22
Diluted Income from Continuing Operations Per Unrestricted Share	$	6.14	$	7.96	$	3.19

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, 2020, 2019 and 2018, because the effect of inclusion would be anti-dilutive, is presented below.


SHARES IN THOUSANDS	2020	2019	2018
Equity-based Compensation Equivalent Shares	874.5	556.4	231.3
Weighted-average Unrestricted Shares and Equivalent Shares Outstanding Assuming Dilution	874.5	556.4	231.3