EX-11 3 afl93014ex11.htm EXHIBIT 11 AFL 9.30.14 Ex 11


EXHIBIT 11
Aflac Incorporated and Subsidiaries
Computation of Earnings Per Share

 
  Three Months Ended September 30,
 
Nine Months Ended
September 30,
 
2014
 
2013
 
2014
 
2013
Numerator (In millions):
 
 
 
 
 
 
 
Basic and diluted: net earnings applicable to common stock
$
706

 
$
702

 
$
2,248

 
$
2,483

Denominator (In thousands):
 
 
 
 
 
 
 
Weighted-average outstanding shares used in the
computation of earnings per share - basic
451,246

 
464,324

 
452,833

 
465,325

Dilutive effect of share-based awards
2,735

 
3,067

 
2,841

 
2,727

Weighted-average outstanding shares used in the
computation of earnings per share - diluted
453,981

 
467,391

 
455,674

 
468,052

Earnings per share:
 
 
 
 
 
 
 
Basic
$
1.56

 
$
1.51

 
$
4.96

 
$
5.34

Diluted
1.56

 
1.50

 
4.93

 
5.31