EX-11 6 ex11.htm EXHIBIT 11 Unassociated Document

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

   
Three months
  
   
ended March 31,
  
   
2008
    
2007
  
   
(Dollars, except per share amounts,
and shares in thousands)
  
             
             
Income (Numerator):
            
Net income
   $ 88,760       77,870  
Dividends applicable to preferred stock
     (87 )     (93 )
                 
Net income applicable to common stock for computing basic earnings per share
     88,673       77,777  
Interest on convertible debentures, net of tax
     -       1,207  
Dividends applicable to preferred stock
     87       93  
                 
 Net income as adjusted for purposes of computing diluted earnings per share
   $ 88,760       79,077  
                 
Shares (Denominator):
                
Weighted average number of shares:
                
      Outstanding during period
     107,116       111,748  
      Nonvested restricted stock
     (974 )     (717 )
                 
Weighted average number of shares outstanding during period for computing basic earnings per share
     106,142       111,031  
                 
Incremental common shares attributable to dilutive securities:
                
      Shares issuable under convertible securities
     380       4,485  
      Shares issuable under incentive compensation plans
     475       792  
                 
                 
Number of shares as adjusted for purposes of computing diluted earnings per share
     106,997       116,308  
                 
Basic earnings per share
   $ .84       .70  
                 
Diluted earnings per share
   $ .83       .68