EX-11 2 afl033115ex11.htm EXHIBIT 11 AFL 03.31.15 Ex 11


EXHIBIT 11
Aflac Incorporated and Subsidiaries
Computation of Earnings Per Share
Three Months Ended March 31,
 
2015
 
2014
Numerator (In millions):
 
 
 
Basic and diluted: net earnings applicable to common stock
$
663

 
$
732

Denominator (In thousands):
 
 
 
Weighted-average outstanding shares used in the
computation of earnings per share - basic
437,306

 
454,731

Dilutive effect of share-based awards
2,621

 
2,968

Weighted-average outstanding shares used in the
computation of earnings per share - diluted
439,927

 
457,699

Earnings per share:
 
 
 
Basic
$
1.52

 
$
1.61

Diluted
1.51

 
1.60