EX-11 2 0002.txt STATEMENT RE COMPUTATION OF PER SHARE EARNINGS Exhibit 11 Horace Mann Educators Corporation Computation of Net Income per Share For the Three and Nine Months Ended September 30, 2000 and 1999 (Amounts in thousands, except per share data)
Three Months Ended Nine Months Ended September 30, September 30, ------------------------ ------------------------- 2000 1999 2000 1999 ---- ---- ---- ---- Basic - assumes no dilution: Net income (loss) for the period $ 12,207 $ (5,458) $ 34,615 $ 22,015 -------- -------- -------- -------- Weighted average number of common shares outstanding during the period 40,550 41,026 40,872 41,318 -------- -------- -------- -------- Net income (loss) per share - basic $ 0.30 $ (0.13) $ 0.85 $ 0.53 ======== ======== ======== ======== Diluted - assumes full dilution: Net income (loss) for the period $ 12,207 $ (5,458) $ 34,615 $ 22,015 -------- -------- -------- -------- Weighted average number of common shares outstanding during the period 40,550 41,026 40,872 41,318 Weighted average number of common equivalent shares to reflect the dilutive effect of common stock equivalent securities: Stock options 48 451 58 395 Common stock units related to Deferred Equity Compensation Plan for Directors 102 66 102 66 Common stock units related to Deferred Compensation Plan for Employees 8 6 8 6 Warrants - 98 - 96 -------- -------- -------- -------- Total common and common equivalent shares adjusted to calculate diluted earnings per share 40,708 41,647 41,040 41,881 -------- -------- -------- -------- Net income (loss) per share - diluted $ 0.30 $ (0.12) $ 0.84 $ 0.53 ======== ======== ======== ======== Percentage of dilution compared to basic net income (loss) per share 0.0% 7.7% 1.2% 0.0%