EX-11 3 exhibit11.txt EXHIBIT 11 EXHIBIT 11 CenturyTel, Inc. COMPUTATIONS OF EARNINGS PER SHARE (UNAUDITED)
Three months Nine months ended September 30, ended September 30, -------------------------------------------------------------------------------------------------------------------------- 2003 2002 2003 2002 -------------------------------------------------------------------------------------------------------------------------- (Dollars, except per share amounts, and shares in thousands) Income (Numerator): Income from continuing operations $ 90,979 64,589 262,265 149,188 Discontinued operations, net of tax - 543,160 - 608,091 -------------------------------------------------------------------------------------------------------------------------- Net income 90,979 607,749 262,265 757,279 Dividends applicable to preferred stock (100) (100) (299) (299) -------------------------------------------------------------------------------------------------------------------------- Net income applicable to common stock 90,879 607,649 261,966 756,980 Dividends applicable to preferred stock 100 100 299 299 -------------------------------------------------------------------------------------------------------------------------- Net income as adjusted for purposes of computing diluted earnings per share $ 90,979 607,749 262,265 757,279 ========================================================================================================================== Shares (Denominator): Weighted average number of shares: Outstanding during period 143,983 141,872 143,474 141,522 Employee Stock Ownership Plan shares not committed to be released (86) (180) (104) (198) -------------------------------------------------------------------------------------------------------------------------- Number of shares for computing basic earnings per share 143,897 141,692 143,370 141,324 Incremental common shares attributable to dilutive securities: Conversion of convertible securities 435 435 435 435 Shares issuable under stock option plan 839 643 676 951 -------------------------------------------------------------------------------------------------------------------------- Number of shares as adjusted for purposes of computing diluted earnings per share 145,171 142,770 144,481 142,710 ========================================================================================================================== Basic earnings per share From continuing operations $ .63 .46 1.83 1.05 From discontinued operations $ - 3.83 - 4.30 Basic earnings per share $ .63 4.29 1.83 5.36 Diluted earnings per share From continuing operations $ .63 .45 1.82 1.05 From discontinued operations $ - 3.80 - 4.26 Diluted earnings per share $ .63 4.26 1.82 5.31