Income from Continuing Operations Per Unrestricted Share

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

Income from Continuing Operations Per Unrestricted Share

Note 7 - Income from Continuing Operations Per Unrestricted Share

The Company’s awards of restricted stock contain a right to receive non-forfeitable dividends and participate in the undistributed earnings with common shareholders. Accordingly, the Company is required to apply the two-class method of computing basic and diluted earnings per share. A reconciliation of the numerator and denominator used in the calculation of Basic Income from Continuing Operations Per Unrestricted Share and Diluted Income from Continuing Operations Per Unrestricted Share for the nine and three months endedSeptember 30, 2012 and 2011 is as follows:

	Nine Months Ended				Three Months Ended
	Sep 30, 2012		Sep 30, 2011		Sep 30, 2012		Sep 30, 2011
(Dollars in Millions)
Income from Continuing Operations	$	93.5	$	36.7	$	55.6	$	1.1
Less Income from Continuing Operations Attributed to Restricted Shares	0.5		0.2		0.3		—
Income from Continuing Operations Attributed to Unrestricted Shares	93.0		36.5		55.3		1.1
Dilutive Effect on Income of Equity-based Compensation Equivalent Shares	—		—		—		—
Diluted Income from Continuing Operations Attributed to Unrestricted Shares	$	93.0	$	36.5	$	55.3	$	1.1
(Shares in Thousands)
Weighted-Average Unrestricted Shares Outstanding	59,155.5		60,312.6		58,299.7		60,141.4
Equity-based Compensation Equivalent Shares	146.6		106.2		171.9		88.0
Weighted-Average Unrestricted Shares and Equivalent Shares Outstanding Assuming Dilution	59,302.1		60,418.8		58,471.6		60,229.4
(Per Unrestricted Share in Whole Dollars)
Basic Income from Continuing Operations Per Unrestricted Share	$	1.57	$	0.61	$	0.95	$	0.01
Diluted Income from Continuing Operations Per Unrestricted Share	$	1.56	$	0.61	$	0.95	$	0.01

Options outstanding to purchase 2.8 million and 2.5 million shares of Kemper common stock were excluded from the computation of Equity-based Compensation Equivalent Shares and Weighted-Average Unrestricted Shares and Equivalent Shares Outstanding Assuming Dilution for the nine and three months endedSeptember 30, 2012, respectively, because their exercise prices exceeded the average market price. Options outstanding to purchase 3.4 million and 3.3 million shares of Kemper common stock were excluded from the computation of Equity-based Compensation Equivalent Shares and Weighted-Average Unrestricted Shares and Equivalent Shares Outstanding Assuming Dilution for the nine and three months endedSeptember 30, 2011, respectively, because their exercise prices exceeded the average market price.