EX-11 5 exh11.htm EXHIBIT 11 exh11.htm

Exhibit 11
CenturyTel, Inc.
COMPUTATIONS OF EARNINGS PER SHARE
(UNAUDITED)

       
Three months
      
       
ended March 31,
      
   
2007
      
2006
  
   
(Dollars, except per share amounts,
and shares in thousands)
  
               
Income (Numerator):
                    
Net income
  
$
77,870
          
69,260
  
Dividends applicable to preferred stock
    
(93
)
        
(98
)
                     
Net income applicable to common stock for computing basic earnings per share
    
77,777
          
69,162
  
Interest on convertible debentures, net of tax
    
1,207
          
1,207
  
Dividends applicable to preferred stock
    
93
          
98
  
                     
Net income as adjusted for purposes of computing diluted earnings per share
  
$
79,077
          
70,467
  
                     
Shares (Denominator):
                    
Weighted average number of shares:
                    
    Outstanding during period
    
111,748
          
122,980
  
    Nonvested restricted stock
    
(717
)
        
(586
)
                     
Weighted average number of shares outstanding during period for computing basic earnings per share
    
111,031
          
122,394
  
                     
Incremental common shares attributable to dilutive securities:
                    
    Shares issuable under convertible securities
    
4,485
          
4,507
  
    Share issuable upon settlement of accelerated share repurchase agreements
    
-
          
414
  
    Shares issuable under incentive compensation plans
    
792
          
644
  
                     
Number of shares as adjusted for purposes of computing diluted earnings per share
    
116,308
          
127,959
  
                     
Basic earnings per share
  
$
.70
          
.57
  
                     
Diluted earnings per share
  
$
.68
          
.55