EX-11 3 ex11.htm EXHIBIT 11 ex11.htm


Exhibit 11
CenturyTel, Inc.
COMPUTATIONS OF EARNINGS PER SHARE
(UNAUDITED)

   
Three months
   
Six months
 
   
ended June 30,
   
ended June 30,
 
   
2007
   
2006
   
2007
   
2006
 
         
(Dollars, except per share amounts,
       
         
and shares in thousands)
       
Income (Numerator):
                       
Net income
  $
112,265
     
152,210
     
190,135
     
221,470
 
Dividends applicable to preferred stock
    (93 )     (96 )     (186 )     (194 )
                                 
Net income applicable to common stock
   
112,172
     
152,114
     
189,949
     
221,276
 
Interest on convertible debentures, net of tax
   
1,207
     
1,207
     
2,414
     
2,414
 
Dividends applicable to preferred stock
   
93
     
96
     
186
     
194
 
                                 
Net income as adjusted for purposes of
                               
  computing diluted earnings per share
  $
113,472
     
153,417
     
192,549
     
223,884
 
                                 
Shares (Denominator):
                               
Weighted average number of shares:
                               
       Outstanding during period
   
109,263
     
116,165
     
110,506
     
119,572
 
       Nonvested restricted stock
    (858 )     (724 )     (788 )     (655 )
                                 
Number of shares for computing basic
                               
  earnings per share
   
108,405
     
115,441
     
109,718
     
118,917
 
                                 
Incremental common shares attributable
                               
  to dilutive securities:
                               
Shares issuable under convertible securities
   
4,485
     
4,496
     
4,485
     
4,502
 
Shares issuable upon settlement of accelerated
                               
  share repurchase agreements
   
-
     
1,045
     
-
     
729
 
Shares issuable under incentive compensation
                               
  and employee benefit plans
   
831
     
654
     
812
     
650
 
                                 
Number of shares as adjusted for purposes
                               
  of computing diluted earnings per share
   
113,721
     
121,636
     
115,015
     
124,798
 
                                 
                                 
Basic earnings per share
  $
1.03
     
1.32
     
1.73
     
1.86
 
                                 
Diluted earnings per share
  $
1.00
     
1.26
     
1.67
     
1.79