EX-11 3 q111ex11.htm KIMBALL INTERNTIONAL, INC. EXHIBIT 11 Exhibit 11

Exhibit 11

KIMBALL INTERNATIONAL, INC. AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER SHARE

(Unaudited) Three Months Ended
September 30, 2010
  Three Months Ended
September 30, 2009
 
(Amounts in Thousands, Except for Per Share Data) Class A   Class B   Total   Class A   Class B   Total  
Basic Earnings Per Share:                  
    Dividends Declared  $     477     $  1,356     $  1,833     $     492     $  1,328     $  1,820   
    Less: Unvested Participating Dividends  -0-     -0-     -0-     (4)    -0-     (4)  
    Dividends to Common Share Owners  477     1,356     1,833     488     1,328     1,816   
    Undistributed Earnings (Loss)          (1,377)            (46)  
    Less: Earnings Allocated to Participating Securities          -0-             -0-   
    Undistributed Earnings (Loss) allocated to Common Share Owners  (386)    (991)    (1,377)    (13)    (33)    (46)  
    Net Income Available to Common Share Owners  $       91     $     365     $     456     $     475     $  1,295     $  1,770   
 
    Average Basic Common Shares Outstanding
 10,575     27,105     37,680     10,730     26,583     37,313   
 
    Basic Earnings Per Share
 $   0.01     $   0.01         $   0.04     $   0.05       
Diluted Earnings Per Share:                  
    Dividends Declared and Assumed Dividends on Dilutive Shares  $     481     $  1,356     $  1,837     $     494     $  1,328     $  1,822   
    Less: Unvested Participating Dividends  -0-     -0-     -0-     (4)    -0-     (4)  
    Dividends and Assumed Dividends to Common Share Owners  481     1,356     1,837     490     1,328     1,818   
    Undistributed Earnings (Loss)          (1,381)            (48)  
    Less: Earnings Allocated to Participating Securities          -0-             -0-   
    Undistributed Earnings (Loss) allocated to Common Share Owners  (390)    (991)    (1,381)    (14)    (34)    (48)  
    Net Income Available to Common Share Owners  $       91     $     365     $     456     $     476     $  1,294     $  1,770   
 
    Average Diluted Common Shares Outstanding
 10,659     27,105     37,764     10,863     26,645     37,508   
 
    Diluted Earnings Per Share
 $   0.01     $   0.01         $   0.04     $   0.05       
Reconciliation of Basic and Diluted EPS Calculations:                        
    Net Income Used for Basic EPS Calculation  $       91     $     365     $     456     $     475     $  1,295     $  1,770   
    Assumed Dividends Payable on Dilutive Shares:                      
        Performance shares  4     -0-     4     2     -0-     2   
    Increase (Reduction) of Undistributed Earnings - allocated based                        
      on Class A and Class B shares  (4)    -0-     (4)    (1)    (1)    (2)  
    Net Income Used for Diluted EPS Calculation  $       91     $     365     $     456     $     476     $  1,294     $  1,770   
 
    Average Shares Outstanding for Basic
      EPS Calculation
 10,575     27,105     37,680     10,730     26,583     37,313   
    Dilutive Effect of Average Outstanding:                        
        Performance shares  84     -0-     84     53     1     54   
        Restricted share units  -0-     -0-     -0-     80     61     141   
    Average Shares Outstanding for Diluted
      EPS Calculation
 10,659     27,105     37,764     10,863     26,645     37,508   
Included in dividends declared for the basic and diluted earnings per share computation for the three months ended September 30, 2009 are dividends computed and accrued on unvested Class A and Class B restricted share units, which were paid by a conversion to the equivalent value of common shares on the vesting date.  Restricted share units held by retirement-age participants at September 30, 2009 had a nonforfeitable right to dividends and were deducted from the above dividends and undistributed earnings figures allocable to common Share Owners. There were no restricted share units outstanding as of September 30, 2010.  
All of the 634,000 and 729,000 average outstanding stock options were antidilutive and were excluded from the dilutive calculations for the quarters ended September 30, 2010 and 2009, respectively.