EX-11 10 exh11.htm EXHIBIT 11 Unassociated Document

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

 
   
Three months
    
Nine months
  
   
ended September 30,
    
ended September 30,
  
   
2010
    
2009
    
2010
    
2009
  
   
(Dollars, except per share amounts,
and shares in thousands)
  
                         
                         
Income (Numerator):
                        
     Net income before extraordinary item
   $ 231,167       147,635       722,539       283,819  
     Extraordinary item, net of income tax expense  and noncontrolling interests
     -       133,213       -       133,213  
Net income attributable to CenturyLink, Inc.
     231,167       280,848       722,539       417,032  
Dividends applicable to preferred stock
     (3 )     (3 )     (9 )     (9 )
Earnings applicable to unvested restricted stock:
                                
     Income before extraordinary item
     (1,442 )     (690 )     (3,866 )     (2,395 )
     Extraordinary item
     -       (622 )     -       (1,124 )
                                 
                                 
Net income as adjusted for purposes of computing basic earnings per share
     229,722       279,533       718,664       413,504  
Dividends applicable to preferred stock
     3       3       9       9  
                                 
Net income as adjusted for purposes of computing diluted earnings per share
   $ 229,725       279,536       718,673       413,513  
                                 
Shares (Denominator):
                                
Weighted average number of shares:
                                
     Outstanding during period
     301,745       297,331       300,665       166,230  
     Unvested restricted stock
     (1,882 )     (1,390 )     (1,607 )     (1,403 )
     Unvested restricted stock units
     839       2,192       1,000       731  
                                 
                                 
Weighted average number of shares outstanding during period for computing basic earnings per share
     300,702       298,133       300,058       165,558  
                                 
Incremental common shares attributable to dilutive securities:
                                
     Shares issuable under convertible securities
     13       13       13       13  
     Shares issuable under incentive compensation plans
     671       257       592       95  
                                 
                                 
Number of shares as adjusted for purposes of computing diluted earnings per share
     301,386       298,403       300,663       165,666  
                                 
 
                                
Basic earnings per share
                                
     Income before extraordinary item
   $ .76       .49       2.40       1.70  
     Extraordinary item
   $ -       .44       -       .80  
     Basic earnings per share
   $ .76       .94       2.40       2.50  
                                 
Diluted earnings per share
                                
     Income before extraordinary item
   $ .76       .49       2.39       1.70  
     Extraordinary item
   $ -       .44       -       .80  
     Basic earnings per share
   $ .76       .94       2.39       2.50