EX-11 13 afl033116ex11.htm EXHIBIT 11 Exhibit


EXHIBIT 11
Aflac Incorporated and Subsidiaries
Computation of Earnings Per Share
Three Months Ended March 31,

 
2016
 
2015
Numerator (In millions):
 
 
 
Basic and diluted: net earnings applicable to common stock
$
731

 
$
663

Denominator (In thousands):
 
 
 
Weighted-average outstanding shares used in the
computation of earnings per share - basic
418,748

 
437,306

Dilutive effect of share-based awards
2,172

 
2,621

Weighted-average outstanding shares used in the
computation of earnings per share - diluted
420,920

 
439,927

Earnings per share:
 
 
 
Basic
$
1.75

 
$
1.52

Diluted
1.74

 
1.51