EX-11 3 g20048exv11.htm EX-11 EX-11
EXHIBIT 11
Aflac Incorporated and Subsidiaries
Computation of Earnings Per Share
                                 
    Three Months Ended     Six Months Ended  
    June 30,     June 30,  
    2009     2008     2009     2008  
 
Numerator (In millions):
                                
Basic and diluted: net earnings applicable to common stock
   $ 314     $ 483     $ 882     $ 957  
 
 
                                
Denominator (In thousands):
                                
Weighted-average outstanding shares used in the computation of earnings per share — basic
     466,401       474,383       466,249       476,261  
Dilutive effect of share-based awards
     1,884       6,445       1,460       6,362  
 
Weighted-average outstanding shares used in the computation of earnings per share — diluted
     468,285       480,828       467,709       482,623  
 
 
                                
Earnings per share:
                                
Basic
   $ .67     $ 1.02     $ 1.89     $ 2.01  
Diluted
     .67       1.00       1.89       1.98  
 
EXH 11-1