EX-11 2 exhibit11.htm EXHIBIT 11 Exhibit 11
Exhibit 11
CenturyTel, Inc.
COMPUTATIONS OF EARNINGS PER SHARE
(UNAUDITED)

        
Three months
      
        
ended March 31,
      
   
 2006
      
2005
  
   
 (Dollars, except per share amounts, and
shares in thousands)
  
Income (Numerator):
                    
Net income
  
$
69,425
          
79,616
  
Dividends applicable to preferred stock
    
(98
)
        
(100
)
                     
Net income applicable to common stock
    
69,327
          
79,516
  
Interest on convertible debentures, net of tax
    
1,207
          
1,207
  
Dividends applicable to preferred stock
    
98
          
100
  
                     
Net income as adjusted for purposes of computing
                    
diluted earnings per share
  
$
70,632
          
80,823
  
                     
Shares (Denominator):
                    
Weighted average number of shares:
                    
Outstanding during period
    
122,980
          
132,183
  
Nonvested restricted stock
    
(586
)
        
-
  
                     
Number of shares for computing basic earnings per share
    
122,394
          
132,183
  
                     
Incremental common shares attributable to dilutive securities:
                    
Shares issuable under convertible securities
    
4,507
          
4,514
  
Share issuable upon settlement of accelerated share
repurchase agreements
     414            -   
Shares issuable under incentive compensation and
employee benefit plans
    
644
          
472
  
                     
Number of shares as adjusted for purposes of computing
                    
diluted earnings per share
    
127,959
          
137,169
  
                     
Basic earnings per share
  
$
.57
          
.60
  
                     
Diluted earnings per share
  
$
.55
          
.59