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

 
 
   
Three months
   
Six months
 
   
ended September 30,
   
ended September 30,
 
   
2008
   
2007
   
2008
   
2007
 
   
(Dollars, except per share amounts, and shares in thousands)
 
Income (Numerator):
                       
Net income
  $ 84,733       113,202       265,660       303,337  
Dividends applicable to preferred stock
    (3 )     (93 )     (152 )     (279 )
                                 
Net income applicable to common stock for computing basic earnings per share
    84,730       113,109       265,508       303,058  
Interest on convertible debentures, net of tax
    -       418       -       2,832  
Dividends applicable to preferred stock
    3       93       152       279  
                                 
 Net income as adjusted for purposes of computing diluted earnings per share
  $ 84,733       113,620       265,660       306,169  
                                 
Shares (Denominator):
                               
Weighted average number of shares:
                               
Outstanding during period
    101,692       109,861       104,565       110,291  
Nonvested restricted stock
    (1,290 )     (865 )     (1,169 )     (813 )
                                 
 Weighted average number of shares outstanding during period for computing basic earnings per share
    100,402       108,996       103,396       109,478  
                                 
 Incremental common shares attributable to dilutive securities:
                               
Shares issuable under convertible securities
    13       2,443       221       3,804  
Shares issuable under incentive compensation plans
    573       790       469       804  
                                 
 
                               
 Number of shares as adjusted for purposes of computing diluted earnings per share
    100,988       112,229       104,086       114,086  
                                 
                                 
Basic earnings per share
  $ .84       1.04       2.57       2.77  
                                 
Diluted earnings per share
  $ .84       1.01       2.55       2.68