EX-11 4 exh11.txt EXHIBIT 11 Exhibit 11 CenturyTel, Inc. COMPUTATIONS OF EARNINGS PER SHARE (UNAUDITED)
Three months Nine months ended September 30, ended September 30, ------------------------------------------------------------------------------------------------------- 2005 2004 2005 2004 ------------------------------------------------------------------------------------------------------- (Dollars, except per share amounts, and shares in thousands) Income (Numerator): Net income $ 91,411 86,192 256,145 252,755 Dividends applicable to preferred stock (99) (100) (298) (299) ------------------------------------------------------------------------------------------------------- Net income applicable to common stock 91,312 86,092 255,847 252,456 Interest on convertible debentures, net of tax 1,207 1,208 3,621 3,621 Dividends applicable to preferred stock 99 100 298 299 ------------------------------------------------------------------------------------------------------- Net income as adjusted for purposes of computing diluted earnings per share $ 92,618 87,400 259,766 256,376 ======================================================================================================= Shares (Denominator): Weighted average number of shares: Outstanding during period 130,433 134,885 131,054 138,525 Nonvested restricted stock (283) - (177) - Employee Stock Ownership Plan shares not committed to be released - - - (13) ------------------------------------------------------------------------------------------------------- Number of shares for computing basic earnings per share 130,150 134,885 130,877 138,512 Incremental common shares attributable to dilutive securities: Shares issuable under convertible securities 4,509 4,514 4,512 4,514 Shares issuable upon settlement of accelerated share repurchase agreements 825 - 344 - Shares issuable under incentive compensation plans 432 417 410 377 ------------------------------------------------------------------------------------------------------- Number of shares as adjusted for purposes of computing diluted earnings per share 135,916 139,816 136,143 143,403 ======================================================================================================= Basic earnings per share $ .70 .64 1.95 1.82 ======================================================================================================= Diluted earnings per share $ .68 .63 1.91 1.79 =======================================================================================================