EX-11 3 afl-6302012ex11.htm EX-11 AFL-6.30.2012 Ex 11



EXHIBIT 11
Aflac Incorporated and Subsidiaries
Computation of Earnings Per Share

 
Three Months Ended
 
Six Months Ended
 
June 30,
 
June 30,
 
2012
 
2011
 
2012
 
2011
Numerator (In millions):
 
 
 
 
 
 
 
Basic and diluted: net earnings applicable to
common stock
$
483

 
$
274

 
$
1,268

 
$
663

Denominator (In thousands):
 
 
 
 
 
 
 
Weighted-average outstanding shares used in the
computation of earnings per share - basic
466,788

 
466,498

 
466,337

 
467,317

Dilutive effect of share-based awards
1,802

 
3,254

 
2,224

 
3,673

Weighted-average outstanding shares used in the
computation of earnings per share - diluted
468,590

 
469,752

 
468,561

 
470,990

Earnings per share:
 
 
 
 
 
 
 
Basic
$
1.04

 
$
.59

 
$
2.72

 
$
1.42

Diluted
1.03

 
.58

 
2.71

 
1.41

Prior-year amounts have been adjusted for the adoption of accounting guidance on January 1, 2012 related to deferred policy acquisition costs.