EX-11 3 exhibit11.htm EXHIBIT 11 Exhibit 11

Exhibit 11
CenturyTel, Inc.
COMPUTATIONS OF EARNINGS PER SHARE
(UNAUDITED)
 
   
Three months
  
Six months
  
   
ended June 30,
  
ended June 30,
  
   
2006
  
2005
  
2006
  
2005
  
   
 (Dollars, except per share amounts,and shares in thousands)
  
Income (Numerator):
                  
Net income
  
$
152,368
    
85,118
    
221,793
    
164,734
  
Dividends applicable to preferred stock
    
(96
)
  
(99
)
  
(194
)
  
(199
)
                           
Net income applicable to common stock
    
152,272
    
85,019
    
221,599
    
164,535
  
Interest on convertible debentures, net of tax
    
1,207
    
1,207
    
2,414
    
2,414
  
Dividends applicable to preferred stock
    
96
    
99
    
194
    
199
  
                         
Net income as adjusted for purposes of computing diluted earnings per share
  
$
153,575
    
86,325
    
224,207
    
167,148
  
                           
Shares (Denominator):
                          
Weighted average number of shares:
                          
Outstanding during period
    
116,165
    
130,546
    
119,572
    
131,365
  
Nonvested restricted stock
    
(724
)
  
(247
)
  
(655
)
  
(124
)
                         
Number of shares for computing basic earnings per share
    
115,441
    
130,299
    
118,917
    
131,241
  
                           
Incremental common shares attributable to dilutive securities:
                          
Shares issuable under convertible securities
    
4,496
    
4,514
    
4,502
    
4,514
  
Shares issuable upon settlement of accelerated share repurchase agreements
    
1,045
    
206
    
729
    
103
  
Shares issuable under incentive compensation and employee benefit plans
    
654
    
326
    
650
    
399
  
                         
Number of shares as adjusted for purposes of computing diluted earnings per share
    
121,636
    
135,345
    
124,798
    
136,257
  
                           
Basic earnings per share
  
$
1.32
    
.65
    
1.86
    
1.25
  
                           
Diluted earnings per share
  
$
1.26
    
.64
    
1.80
    
1.23