EX-11 2 g21076exv11.htm EX-11 exv11
EXHIBIT 11
Aflac Incorporated and Subsidiaries
Computation of Earnings Per Share
                                     
    Three Months Ended   Nine Months Ended
    September 30,   September 30,
    2009   2008   2009   2008
 
Numerator (In millions):
                                
Basic and diluted: net earnings applicable to common stock
   $ 363     $ 100     $ 1,245     $ 1,057  
 
 
                                
Denominator (In thousands):
                                
Weighted-average outstanding shares used in the computation of earnings per share — basic
     466,586       475,357       466,362       476,076  
Dilutive effect of share-based awards
     3,128       5,388       2,016       6,037  
 
Weighted-average outstanding shares used in the computation of earnings per share — diluted
     469,714       480,745       468,378       482,113  
 
 
                                
Earnings per share:
                                
Basic
   $ .78     $ .21     $ 2.67     $ 2.22  
Diluted
     .77       .21       2.66       2.19  
 
EXH 11-1