EX-11 4 a10qexhibit11eps12312015q2.htm KIMBALL INTERNATIONAL, INC. EXHIBIT 11 Exhibit


Exhibit 11
KIMBALL INTERNATIONAL, INC.
COMPUTATION OF EARNINGS PER SHARE

As a result of the October 30, 2014 stock unification, all distinctions between Class A common stock and Class B common stock were eliminated so that all shares of Class B common stock are equal to shares of Class A common stock with respect to all matters, including without limitation, dividend payments and voting rights. Therefore, beginning in fiscal year 2016 the earnings per share calculation includes all common stock in a single calculation.

EARNINGS PER SHARE FROM CONTINUING OPERATIONS
(Unaudited)
Three Months Ended
 
Three Months Ended
(Amounts in Thousands, Except for Per Share Data)
December 31, 2015
 
December 31, 2014
 
 
 
 
 
 
 
Class A
 
Class B
 
Total
Basic Earnings (Loss) Per Share from Continuing Operations:
 
 
 
 
 
 
 
 
 
 
 
Dividends Declared
 
 
$
2,071

 
 
 
$
112

 
$
1,839

 
$
1,951

Undistributed Earnings (Loss)
 
 
4,431

 
 
 
(168
)
 
(1,784
)
 
(1,952
)
Income (Loss) from Continuing Operations
 
 
$
6,502

 
 
 
$
(56
)
 
$
55

 
$
(1
)
Average Basic Shares Outstanding
 
 
37,421

 
 
 
3,345

 
35,517

 
38,862

Basic Earnings (Loss) Per Share from Continuing Operations
 
 
$
0.17

 
 
 
$
(0.02
)
 
$
0.00

 
 
Diluted Earnings (Loss) Per Share from Continuing Operations:
 
 
 
 
 
 
 
 
 
 
 
Dividends Declared and Assumed Dividends on Dilutive Shares
 
 
$
2,081

 
 
 
$
112

 
$
1,839

 
$
1,951

Undistributed Earnings (Loss)
 
 
4,421

 
 
 
(168
)
 
(1,784
)
 
(1,952
)
Income (Loss) from Continuing Operations
 
 
$
6,502

 
 
 
$
(56
)
 
$
55

 
$
(1
)
Average Diluted Shares Outstanding
 
 
37,617

 
 
 
3,345

 
35,517

 
38,862

Diluted Earnings (Loss) Per Share from Continuing Operations
 
 
$
0.17

 
 
 
$
(0.02
)
 
$
0.00

 
 
Reconciliation of Basic and Diluted EPS from Continuing Operations Calculations:
 
 
 
 
 
 
 
 
 
 
 
Income (Loss) from Continuing Operations
Used for Basic EPS Calculation
 
 
$
6,502

 
 
 
$
(56
)
 
$
55

 
$
(1
)
Assumed Dividends Payable on Dilutive Shares
 
 
10

 
 
 
—

 
—

 
—

Increase (Reduction) in Undistributed Earnings (Loss) - allocated based on Class A and Class B shares
 
 
(10
)
 
 
 
—

 
—

 
—

Income (Loss) from Continuing Operations
Used for Diluted EPS Calculation
 
 
$
6,502

 
 
 
$
(56
)
 
$
55

 
$
(1
)
Average Shares Outstanding for Basic EPS Calculation
 
 
37,421

 
 
 
3,345

 
35,517

 
38,862

Dilutive Effect of Average Outstanding Compensation Awards
 
 
196

 
 
 
—

 
—

 
—

Average Shares Outstanding for Diluted EPS Calculation
 
 
37,617

 
 
 
3,345

 
35,517

 
38,862


For the quarter ended December 31, 2014, all of the 503,000 outstanding compensation awards were antidilutive and were excluded from the dilutive calculation.




(Unaudited)
Six Months Ended
 
Six Months Ended
(Amounts in Thousands, Except for Per Share Data)
December 31, 2015
 
December 31, 2014
 
 
 
 
 
 
 
Class A
 
Class B
 
Total
Basic Earnings Per Share from Continuing Operations:
 
 
 
 
 
 
 
 
 
 
 
Dividends Declared
 
 
$
4,142

 
 
 
$
474

 
$
3,380

 
$
3,854

Undistributed Earnings (Loss)
 
 
7,982

 
 
 
(340
)
 
(1,998
)
 
(2,338
)
Income from Continuing Operations
 
 
$
12,124

 
 
 
$
134

 
$
1,382

 
$
1,516

Average Basic Shares Outstanding
 
 
37,468

 
 
 
5,642

 
33,144

 
38,786

Basic Earnings Per Share from Continuing Operations
 
 
$
0.32

 
 
 
$
0.02

 
$
0.04

 
 
Diluted Earnings Per Share from Continuing Operations:
 
 
 
 
 
 
 
 
 
 
 
Dividends Declared and Assumed Dividends on Dilutive Shares
 
 
$
4,184

 
 
 
$
474

 
$
3,390

 
$
3,864

Undistributed Earnings (Loss)
 
 
7,940

 
 
 
(341
)
 
(2,007
)
 
(2,348
)
Income from Continuing Operations
 
 
$
12,124

 
 
 
$
133

 
$
1,383

 
$
1,516

Average Diluted Shares Outstanding
 
 
37,848

 
 
 
5,642

 
33,250

 
38,892

Diluted Earnings Per Share from Continuing Operations
 
 
$
0.32

 
 
 
$
0.02

 
$
0.04

 
 
Reconciliation of Basic and Diluted EPS from Continuing Operations Calculations:
 
 
 
 
 
 
 
 
 
 
 
Income from Continuing Operations
Used for Basic EPS Calculation
 
 
$
12,124

 
 
 
$
134

 
$
1,382

 
$
1,516

Assumed Dividends Payable on Dilutive Shares
 
 
42

 
 
 
—

 
10

 
10

Increase (Reduction) in Undistributed Earnings (Loss) - allocated based on Class A and Class B shares
 
 
(42
)
 
 
 
(1
)
 
(9
)
 
(10
)
Income from Continuing Operations
Used for Diluted EPS Calculation
 
 
$
12,124

 
 
 
$
133

 
$
1,383

 
$
1,516

Average Shares Outstanding for Basic EPS Calculation
 
 
37,468

 
 
 
5,642

 
33,144

 
38,786

Dilutive Effect of Average Outstanding Compensation Awards
 
 
380

 
 
 
—

 
106

 
106

Average Shares Outstanding for Diluted EPS Calculation
 
 
37,848

 
 
 
5,642

 
33,250

 
38,892

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 






EARNINGS PER SHARE FROM DISCONTINUED OPERATIONS
(Unaudited)
Three Months Ended
 
Three Months Ended
 
December 31, 2015
 
December 31, 2014
 
 
 
 
 
Class A
 
Class B
Basic Earnings Per Share
 
$
0.00

 
 
$
0.07

 
$
0.07

Diluted Earnings Per Share
 
$
0.00

 
 
$
0.07

 
$
0.07

 
 
 
 
 
 
 
 
 
Six Months Ended
 
Six Months Ended
 
December 31, 2015
 
December 31, 2014
 
 
 
 
 
Class A
 
Class B
Basic Earnings Per Share
 
$
0.00

 
 
$
0.24

 
$
0.24

Diluted Earnings Per Share
 
$
0.00

 
 
$
0.24

 
$
0.24


EARNINGS PER SHARE (INCLUDING DISCONTINUED OPERATIONS)
(Unaudited)
Three Months Ended
 
Three Months Ended
(Amounts in Thousands, Except for Per Share Data)
December 31, 2015
 
December 31, 2014
 
 
 
Class A
 
Class B
 
Total
Basic Earnings Per Share:
 
 
 
 
 
 
 
 
 
 
 
Dividends Declared
 
 
$
2,071

 
 
 
$
112

 
$
1,839

 
$
1,951

Undistributed Earnings
 
 
4,431

 
 
 
62

 
664

 
726

Net Income
 
 
$
6,502

 
 
 
$
174

 
$
2,503

 
$
2,677

Average Basic Shares Outstanding
 
 
37,421

 
 
 
3,345

 
35,517

 
38,862

Basic Earnings Per Share
 
 
$
0.17

 
 
 
$
0.05

 
$
0.07

 
 
Diluted Earnings Per Share:
 
 
 
 
 
 
 
 
 
 
 
Dividends Declared and Assumed Dividends on Dilutive Shares
 
 
$
2,081

 
 
 
$
112

 
$
1,839

 
$
1,951

Undistributed Earnings
 
 
4,421

 
 
 
62

 
664

 
726

Net Income
 
 
$
6,502

 
 
 
$
174

 
$
2,503

 
$
2,677

Average Diluted Shares Outstanding
 
 
37,617

 
 
 
3,345

 
35,517

 
38,862

Diluted Earnings Per Share
 
 
$
0.17

 
 
 
$
0.05

 
$
0.07

 
 

(Unaudited)
Six Months Ended
 
Six Months Ended
(Amounts in Thousands, Except for Per Share Data)
December 31, 2015
 
December 31, 2014
 

 

 

 
Class A
 
Class B
 
Total
Basic Earnings Per Share:
 
 
 
 
 
 
 
 
 
 
 
Dividends Declared
 
 
$
4,142

 
 
 
$
474

 
$
3,380

 
$
3,854

Undistributed Earnings
 
 
7,982

 
 
 
992

 
5,827

 
6,819

Net Income
 
 
$
12,124

 
 
 
$
1,466

 
$
9,207

 
$
10,673

Average Basic Shares Outstanding
 
 
37,468

 
 
 
5,642

 
33,144

 
38,786

Basic Earnings Per Share
 
 
$
0.32

 
 
 
$
0.26

 
$
0.28

 
 
Diluted Earnings Per Share:
 
 
 
 
 
 
 
 
 
 
 
Dividends Declared and Assumed Dividends on Dilutive Shares
 
 
$
4,184

 
 
 
$
474

 
$
3,390

 
$
3,864

Undistributed Earnings
 
 
7,940

 
 
 
988

 
5,821

 
6,809

Net Income
 
 
$
12,124

 
 
 
$
1,462

 
$
9,211

 
$
10,673

Average Diluted Shares Outstanding
 
 
37,848

 
 
 
5,642

 
33,250

 
38,892

Diluted Earnings Per Share
 
 
$
0.32

 
 
 
$
0.26

 
$
0.28