Income From Continuing Operations Per Unrestricted Share

12 Months Ended

Dec. 31, 2015

Income from Continuing Operations Per Unrestricted Share

NOTE 11. INCOME FROM CONTINUING OPERATIONS PER UNRESTRICTED SHARE

The Company’s awards of restricted stock contain rights to receive non-forfeitable dividends and participate in the undistributed earnings with common shareholders. The Company’s awards of RSUs and DSUs also contain rights to receive non-forfeitable dividend equivalents 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 years ended December 31, 2015, 2014 and 2013 is presented below.



	2015		2014		2013
DOLLARS IN MILLIONS
Income from Continuing Operations	$	80.2	$	112.6	$	214.5
Less Income from Continuing Operations Attributed to Participating Awards	0.4		0.5		1.1
Income from Continuing Operations Attributed to Unrestricted Shares	79.8		112.1		213.4
Dilutive Effect on Income of Equity-based Compensation Equivalent Shares	—		—		—
Diluted Income from Continuing Operations Attributed to Unrestricted Shares	$	79.8	$	112.1	$	213.4
SHARES IN THOUSANDS
Weighted-average Unrestricted Shares Outstanding	51,606.9		53,762.5		56,856.9
Equity-based Compensation Equivalent Shares	76.6		105.4		126.7
Weighted-average Unrestricted Shares and Equivalent Shares Outstanding Assuming Dilution	51,683.5		53,867.9		56,983.6
PER UNRESTRICTED SHARE IN WHOLE DOLLARS
Basic Income from Continuing Operations Per Unrestricted Share	$	1.55	$	2.08	$	3.75
Diluted Income from Continuing Operations Per Unrestricted Share	$	1.55	$	2.08	$	3.74

The number of shares of Kemper common stock that were excluded from the calculations of Equity-based Compensation Equivalent Shares and Weighted-average Unrestricted Shares and Equivalent Shares Outstanding Assuming Dilution for the years ended December 31, 2015, 2014 and 2013 because the exercise prices for the options exceeded the average market price is presented below.



SHARES IN THOUSANDS	2015	2014	2013
Equity-based Compensation Equivalent Shares	959.7	1,605.1	2,080.9
Weighted-average Unrestricted Shares and Equivalent Shares Outstanding Assuming Dilution	959.7	1,605.1	2,080.9