EX-11 3 afl033113ex11.htm EX-11
Aflac Incorporated 1st Quarter 2013 Form 10-Q
EXHIBIT 11
Aflac Incorporated and Subsidiaries
Computation of Earnings Per Share
Three Month Ended March 31,

| 2013 |  | 2012
Numerator (In millions): |  |  |
Basic and diluted: net earnings applicable to common stock | $ | 892 |  |  | $ | 785 |
Denominator (In thousands): |  |  |
Weighted-average outstanding shares used in the computation of earnings per share - basic | 466,462 |  |  | 465,887 |
Dilutive effect of share-based awards | 2,662 |  |  | 2,646 |
Weighted-average outstanding shares used in the computation of earnings per share - diluted | 469,124 |  |  | 468,533 |
Earnings per share: |  |  |
Basic | $ | 1.91 |  |  | $ | 1.68 |
Diluted | 1.90 |  |  | 1.68 |