EX-11 2 g19000exv11.htm EX-11 EX-11
EXHIBIT 11
Aflac Incorporated and Subsidiaries
Computation of Earnings Per Share
Three Months Ended March 31,
                 
    2009     2008  
 
Numerator (In millions):
                
Basic and diluted: net earnings applicable to common stock
   $ 569     $ 474  
 
 
                
Denominator (In thousands):
                
Weighted-average outstanding shares used in the computation of earnings per share — basic
     466,097       478,138  
Dilutive effect of share-based awards
     1,035       6,279  
 
Weighted-average outstanding shares used in the computation of earnings per share — diluted
     467,132       484,417  
 
 
                
Earnings per share:
                
Basic
   $ 1.22     $ .99  
Diluted
     1.22       .98  
 
EXH 11-1