EX-11 3 g16445exv11.htm EX-11 EX-11
EXHIBIT 11
Aflac Incorporated and Subsidiaries
Computation of Earnings Per Share
                                 
    Three Months Ended   Nine Months Ended
    September 30,   September 30,
    2008   2007   2008   2007
 
Numerator (In millions):
                                
Basic and diluted: net earnings applicable to common stock
   $ 100     $ 420     $ 1,057     $ 1,251  
 
Denominator (In thousands):
                                
Weighted-average outstanding shares used in the computation of earnings per share — basic
     475,357       487,065       476,076       488,493  
Dilutive effect of share-based awards
     5,388       5,754       6,037       6,062  
 
Weighted-average outstanding shares used in the computation of earnings per share — diluted
     480,745       492,819       482,113       494,555  
 
Earnings per share:
                                
Basic
   $ .21     $ .86     $ 2.22     $ 2.56  
Diluted
     .21       .85       2.19       2.53  
 
EXH 11-1