EX-11 3 0003.txt COMPUTATION OF PER SHARE EARNINGS STATEMENT Exhibit 11 Horace Mann Educators Corporation Computation of Net Income per Share For the Years Ended December 31, 2000, 1999 and 1998 (Amounts in thousands, except per share data)
Year Ended December 31, ------------------------- 2000 1999 1998 ---- ---- ---- Basic - assumes no dilution: Net income for the period $20,841 $44,505 $85,312 ------- ------- ------- Weighted average number of common shares outstanding during the period 40,782 41,246 43,239 ------- ------- ------- Net income per share - basic $ 0.51 $ 1.08 $ 1.97 ======= ======= ======= Diluted - assumes full dilution: Net income for the period $20,841 $44,505 $85,312 ------- ------- ------- Weighted average number of common shares outstanding during the period 40,782 41,246 43,239 Weighted average number of common equivalent shares to reflect the dilutive effect of common stock equivalent securities: Stock options 62 387 451 Common stock units related to Deferred Equity Compensation Plan for Directors 114 69 49 Common stock units related to Deferred Compensation Plan for Employees 9 6 1 Warrants - - 98 ------- ------- ------- Total common and common equivalent shares adjusted to calculate diluted earnings per share 40,967 41,708 43,838 ------- ------- ------- Net income per share - diluted $ 0.51 $ 1.07 $ 1.95 ======= ======= ======= Percentage of dilution compared to basic net income per share 0.0% 0.9% 1.0%