EX-11 7 afl093015ex11.htm EXHIBIT 11 Exhibit


EXHIBIT 11
Aflac Incorporated and Subsidiaries
Computation of Earnings Per Share

 
Three Months Ended
September 30,
 
Nine Months Ended
September 30,
 
2015
 
2014
 
2015
 
2014
Numerator (In millions):
 
 
 
 
 
 
 
Basic and diluted: net earnings applicable to common stock
$
567

 
$
706

 
$
1,803

 
$
2,248

Denominator (In thousands):
 
 
 
 
 
 
 
Weighted-average outstanding shares used in the
computation of earnings per share - basic
428,735

 
451,246

 
432,540

 
452,833

Dilutive effect of share-based awards
2,367

 
2,735

 
2,524

 
2,841

Weighted-average outstanding shares used in the
computation of earnings per share - diluted
431,102

 
453,981

 
435,064

 
455,674

Earnings per share:
 
 
 
 
 
 
 
Basic
$
1.32

 
$
1.56

 
$
4.17

 
$
4.96

Diluted
1.32

 
1.56

 
4.14

 
4.93