EX-11 2 afl-9302012ex11.htm EX-11 AFL-9.30.2012 Ex 11


Aflac Incorporated 3rd Quarter 2012 Form 10-Q
EXHIBIT 11
Aflac Incorporated and Subsidiaries
Computation of Earnings Per Share

 
Three Months Ended
 
Nine Months Ended
 
September 30,
 
September 30,
 
2012
 
2011
 
2012
 
2011
Numerator (In millions):
 
 
 
 
 
 
 
Basic and diluted: net earnings applicable to
common stock
$
1,017

 
$
736

 
$
2,285

 
$
1,399

Denominator (In thousands):
 
 
 
 
 
 
 
Weighted-average outstanding shares used in the
computation of earnings per share - basic
467,422

 
465,910

 
466,702

 
466,843

Dilutive effect of share-based awards
2,299

 
1,883

 
2,249

 
3,076

Weighted-average outstanding shares used in the
computation of earnings per share - diluted
469,721

 
467,793

 
468,951

 
469,919

Earnings per share:
 
 
 
 
 
 
 
Basic
$
2.17

 
$
1.58

 
$
4.90

 
$
3.00

Diluted
2.16

 
1.57

 
4.87

 
2.98

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