Net Income Per Unrestricted Share

9 Months Ended

Sep. 30, 2023

Per Unrestricted ShareThe 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.

Note 2 - Net Loss Per Unrestricted Share (Continued)

A reconciliation of the numerator and denominator used in the calculation of Basic Net Loss Per Unrestricted Share and Diluted Net Loss Per Unrestricted Share for the nine and three months ended September 30, 2023 and 2022 is presented below.


	Nine Months Ended				Three Months Ended
(Dollars in Millions, except per share amounts)	Sep 30, 2023		Sep 30, 2022		Sep 30, 2023		Sep 30, 2022
Net Loss attributable to Kemper Corporation	$	(323.5)	$	(233.3)	$	(146.3)	$	(74.8)
Less: Net Loss Attributed to Participating Awards	—		—		—		—
Net Loss Attributed to Unrestricted Shares	(323.5)		(233.3)		(146.3)		(74.8)
Dilutive Effect on Income of Equity-based Compensation Equivalent Shares	—		—		—		—
Diluted Net Loss Attributed to Unrestricted Shares	$	(323.5)	$	(233.3)	$	(146.3)	$	(74.8)
(Number of Shares in Thousands)
Weighted-average Unrestricted Shares Outstanding	64,004.4		63,804.4		64,056.9		63,852.8
Equity-based Compensation Equivalent Shares	—		—		—		—
Weighted-average Unrestricted Shares and Equivalent Shares Outstanding Assuming Dilution	64,004.4		63,804.4		64,056.9		63,852.8

Net Loss attributable to Kemper Corporation per Unrestricted Share:
(Per Unrestricted Share in Whole Dollars)
Basic Net Loss Per Unrestricted Share	$	(5.05)	$	(3.66)	$	(2.28)	$	(1.17)
Diluted Net Loss Per Unrestricted Share	$	(5.05)	$	(3.66)	$	(2.28)	$	(1.17)