EX-11 2 afl063016ex11.htm EXHIBIT 11 Exhibit


EXHIBIT 11
Aflac Incorporated and Subsidiaries
Computation of Earnings Per Share

 
Three Months Ended
June 30,
 
Six Months Ended
June 30,
 
2016
 
2015
 
2016
 
2015
Numerator (In millions):
 
 
 
 
 
 
 
Basic and diluted: net earnings applicable to common stock
$
548

 
$
573

 
$
1,279

 
$
1,236

Denominator (In thousands):
 
 
 
 
 
 
 
Weighted-average outstanding shares used in the
computation of earnings per share - basic
411,853

 
431,672

 
415,301

 
434,473

Dilutive effect of share-based awards
2,473

 
2,585

 
2,322

 
2,604

Weighted-average outstanding shares used in the
computation of earnings per share - diluted
414,326

 
434,257

 
417,623

 
437,077

Earnings per share:
 
 
 
 
 
 
 
Basic
$
1.33

 
$
1.33

 
$
3.08

 
$
2.84

Diluted
1.32

 
1.32

 
3.06

 
2.83