Exhibit 11

Exhibit 11. Statement re computation of per share earnings.

TORCHMARK CORPORATION

COMPUTATION OF EARNINGS PER SHARE

	Three months ended June 30,
	2005		2004
Income before cumulative effect of change in accounting principle	$	132,365,000	$	116,561,000
Cumulative effect of change in accounting principle (net of applicable tax)		0		0
Net Income	$	132,365,000	$	116,561,000
Basic weighted average shares outstanding		104,758,238		110,771,195
Diluted weighted average shares outstanding		105,982,185		112,615,018
Basic earnings per share:
Income before cumulative effect of change in accounting principle	$	1.26	$	1.05
Cumulative effect of change in accounting principle (net of applicable tax)		0.00		0.00
Basic net income per share	$	1.26	$	1.05
Diluted earnings per share:
Income before cumulative effect of change in accounting principle	$	1.25	$	1.04
Cumulative effect of change in accounting principle (net of applicable tax)		0.00		0.00
Diluted net income per share	$	1.25	$	1.04
	Six months ended June 30,
	2005		2004
Income before cumulative effect of change in accounting principle	$	250,208,000	$	236,075,000
Cumulative effect of change in accounting principle (net of applicable tax)		0		(7,163,000	)
Net Income	$	250,208,000	$	228,912,000
Basic weighted average shares outstanding		105,585,139		111,600,864
Diluted weighted average shares outstanding and common stock equivalents outstanding		107,016,337		113,338,971
Basic earnings per share:
Income before cumulative effect of change in accounting principle	$	2.37	$	2.11
Cumulative effect of change in accounting principle (net of applicable tax)		0.00		(0.06	)
Basic net income per share	$	2.37	$	2.05
Diluted earnings per share:
Income before cumulative effect of change in accounting principle	$	2.34	$	2.08
Cumulative effect of change in accounting principle (net of applicable tax)		0.00		(0.06	)
Diluted net income per share	$	2.34	$	2.02