Net Income Per Unrestricted Share

6 Months Ended

Jun. 30, 2021

Earnings Per Share [Abstract]

Net Income Per Unrestricted Share

Net Income Per Unrestricted Share

The Company’s awards of deferred stock units granted to Kemper’s non-employee directors prior to 2019 contain rights to receive non-forfeitable dividend equivalents 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 Net Income (Loss) Per Unrestricted Share and Diluted Net Income (Loss) Per Unrestricted Share for the six and three months ended June 30, 2021 and 2020 is presented below.

Note 2 - Net Income Per Unrestricted Share (Continued)

	Six Months Ended				Three Months Ended
(Dollars in Millions, except per share amounts)	Jun 30, 2021		Jun 30, 2020		Jun 30, 2021		Jun 30, 2020
Net Income (Loss)	$	60.6	$	190.1	$	(62.6)	$	126.1
Less Net Income Attributed to Participating Awards	0.1		0.2		—		0.1
Net Income (Loss) Attributed to Unrestricted Shares	60.5		189.9		(62.6)		126.0
Dilutive Effect on Income of Equity-based Compensation Equivalent Shares	—		—		—		—
Diluted Net Income (Loss) Attributed to Unrestricted Shares	$	60.5	$	189.9	$	(62.6)	$	126.0
(Number of Shares in Thousands)
Weighted-average Unrestricted Shares Outstanding	64,897.8		65,886.8		64,376.8		65,257.6
Equity-based Compensation Equivalent Shares	1,153.7		781.1		—		763.2
Weighted-average Unrestricted Shares and Equivalent Shares Outstanding Assuming Dilution	66,051.5		66,667.9		64,376.8		66,020.8
(Per Unrestricted Share in Whole Dollars)
Basic Net Income (Loss) Per Unrestricted Share	$	0.93	$	2.88	$	(0.97)	$	1.93
Diluted Net Income (Loss) Per Unrestricted Share	$	0.92	$	2.85	$	(0.97)	$	1.91

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 six and three months ended June 30, 2021 and 2020, because the effect of inclusion would be anti-dilutive, is presented below.

	Six Months Ended		Three Months Ended
(Number of Shares in Thousands)	Jun 30, 2021	Jun 30, 2020	Jun 30, 2021	Jun 30, 2020
Equity-based Compensation Equivalent Shares	1,197.8	872.0	2,190.4	915.0
Weighted-average Unrestricted Shares and Equivalent Shares Outstanding Assuming Dilution	1,197.8	872.0	2,190.4	915.0