EX-11 6 afl33114ex11.htm COMPUTATION OF PER SHARE EARNINGS AFL 3.31.14 Ex 11


EXHIBIT 11
Aflac Incorporated and Subsidiaries
Computation of Earnings Per Share
Three Months Ended March 31,
 
2014
 
2013
Numerator (In millions):
 
 
 
Basic and diluted: net earnings applicable to common stock
$
732

 
$
892

Denominator (In thousands):
 
 
 
Weighted-average outstanding shares used in the
computation of earnings per share - basic
454,731

 
466,462

Dilutive effect of share-based awards
2,968

 
2,662

Weighted-average outstanding shares used in the
computation of earnings per share - diluted
457,699

 
469,124

Earnings per share:
 
 
 
Basic
$
1.61

 
$
1.91

Diluted
1.60

 
1.90