EX-11 2 g21076exv11.htm EX-11
Aflac Incorporated 3rd Quarter 2009 Form 10-Q
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