EX-11 3 afl033117ex11.htm EXHIBIT 11 Exhibit


EXHIBIT 11
Aflac Incorporated and Subsidiaries
Computation of Earnings Per Share
Three Months Ended March 31,

 
2017
 
2016
Numerator (In millions):
 
 
 
Basic and diluted: net earnings applicable to common stock
$
592

 
$
731

Denominator (In thousands):
 
 
 
Weighted-average outstanding shares used in the
computation of earnings per share - basic
401,130

 
418,748

Dilutive effect of share-based awards
2,939

 
2,172

Weighted-average outstanding shares used in the
computation of earnings per share - diluted
404,069

 
420,920

Earnings per share:
 
 
 
Basic
$
1.48

 
$
1.75

Diluted
1.47

 
1.74