EX-11 2 afl63014ex11.htm COMPUTATION OF PER SHARE EARNINGS AFL 6.30.14 Ex 11


EXHIBIT 11
Aflac Incorporated and Subsidiaries
Computation of Earnings Per Share

 
  Three Months Ended June 30,
 
Six Months Ended
June 30,
 
2014
 
2013
 
2014
 
2013
Numerator (In millions):
 
 
 
 
 
 
 
Basic and diluted: net earnings applicable to common stock
$
810

 
$
889

 
$
1,542

 
$
1,781

Denominator (In thousands):
 
 
 
 
 
 
 
Weighted-average outstanding shares used in the
computation of earnings per share - basic
452,559

 
465,213

 
453,639

 
465,834

Dilutive effect of share-based awards
2,821

 
2,762

 
2,895

 
2,712

Weighted-average outstanding shares used in the
computation of earnings per share - diluted
455,380

 
467,975

 
456,534

 
468,546

Earnings per share:
 
 
 
 
 
 
 
Basic
$
1.79

 
$
1.91

 
$
3.40

 
$
3.82

Diluted
1.78

 
1.90

 
3.38

 
3.80