EX-11 8 dex11.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, 2001 and 2000 (Amounts in thousands, except per share data)
Three Months Ended Nine Months Ended September 30, September 30, --------------------------- ------------------------- 2001 2000 2001 2000 ---- ---- ---- ---- Basic - assumes no dilution: Net income for the period $ 9,057 $ 12,207 $ 20,829 $ 34,615 --------- --------- --------- -------- Weighted average number of common shares outstanding during the period 40,659 40,550 40,579 40,872 --------- --------- --------- -------- Net income per share - basic $ 0.22 $ 0.30 $ 0.51 $ 0.85 ========= ========= ========= ======== Diluted - assumes full dilution: Net income for the period $ 9,057 $ 12,207 $ 20,829 $ 34,615 --------- --------- --------- -------- Weighted average number of common shares outstanding during the period 40,659 40,550 40,579 40,872 Weighted average number of common equivalent shares to reflect the dilutive effect of common stock equivalent securities: Stock options 185 48 122 58 Common stock units related to Deferred Equity Compensation Plan for Directors 119 102 119 102 Common stock units related to Deferred Compensation Plan for Employees 14 8 14 8 --------- --------- --------- -------- Total common and common equivalent shares adjusted to calculate diluted earnings per share 40,977 40,708 40,834 41,040 --------- --------- --------- -------- Net income per share - diluted $ 0.22 $ 0.30 $ 0.51 $ 0.84 ========= ========= ========= ======== Percentage of dilution compared to basic net income per share 0% 0% 0% 1.2%