EX-11 5 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 Six Months Ended June 30, 2003 and 2002 (Amounts in thousands, except per share data)
Three Months Ended Six Months Ended June 30, June 30, ------------------ ----------------- 2003 2002 2003 2002 ------- -------- ------- ------- Basic - assumes no dilution: Net income (loss) for the period........................ $ 2,083 $(19,287) $10,182 $(3,716) ------- -------- ------- ------- Weighted average number of common shares outstanding during the period................. 42,707 40,838 42,704 40,809 ------- -------- ------- ------- Net income (loss) per share - basic..................... $ 0.05 $ (0.47) $ 0.24 $ (0.09) ======= ======== ======= ======= Diluted - assumes full dilution: Net income (loss) for the period........................ $ 2,083 $(19,287) $10,182 $(3,716) ------- -------- ------- ------- Weighted average number of common shares outstanding during the period................. 42,707 40,838 42,704 40,809 Weighted average number of common equivalent shares to reflect the dilutive effect of common stock equivalent securities: Stock options..................................... 25 292 13 299 Common stock units related to Deferred Equity Compensation Plan for Directors......... 139 134 139 134 Common stock units related to Deferred Compensation Plan for Employees................ 30 30 30 30 ------- -------- ------- ------- Total common and common equivalent shares adjusted to calculate diluted earnings per share................. 42,901 41,294 42,886 41,272 ------- -------- ------- ------- Net income (loss) per share - diluted................... $ 0.05 $ (0.47) $ 0.24 $ (0.09) ======= ======== ======= ======= Percentage of dilution compared to basic net income per share........................ 0.0% 0.0% 0.0% 0.0%