EX-11 2 exh11.htm EXHIBIT 11 exh11.htm

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

 
 
   
Three months
   
Six months
 
   
ended June 30,
   
ended June 30,
 
   
2008
   
2007
   
2008
   
2007
 
   
(Dollars, except per share amounts,
 
   
and shares in thousands)
 
Income (Numerator):
                       
Net income
  $ 92,167       112,265       180,927       190,135  
Dividends applicable to preferred stock
    (62 )     (93 )     (149 )     (186 )
                                 
Net income applicable to common stock
    92,105       112,172       180,778       189,949  
Interest on convertible debentures, net of tax
    -       1,207       -       2,414  
Dividends applicable to preferred stock
    62       93       149       186  
                                 
 Net income as adjusted for purposes of computing diluted earnings per share
  $ 92,167       113,472       180,927       192,549  
                                 
Shares (Denominator):
                               
Weighted average number of shares:
                               
Outstanding during period
    104,886       109,263       106,001       110,506  
Nonvested restricted stock
    (1,242 )     (858 )     (1,108 )     (788 )
                                 
 Number of shares for computing basic earnings per share
    103,644       108,405       104,893       109,718  
                                 
 Incremental common shares attributable to dilutive securities:
                               
Shares issuable under convertible securities
    269       4,485       325       4,485  
Shares issuable under incentive compensation and employee benefit plans
    360       831       417       812  
                                 
 
                               
 Number of shares as adjusted for purposes of computing diluted earnings per share
    104,273       113,721       105,635       115,015  
                                 
                                 
Basic earnings per share
  $ .89       1.03       1.72       1.73  
                                 
Diluted earnings per share
  $ .88       1.00       1.71       1.67