EX-11 6 afl33114ex11.htm COMPUTATION OF PER SHARE EARNINGS
Aflac Incorporated 1st Quarter 2014 10-Q
EXHIBIT 11
Aflac Incorporated and Subsidiaries
Computation of Earnings Per Share
Three Months Ended March 31,

| 2014 |  | 2013
Numerator (In millions): |  |  |
Basic and diluted: net earnings applicable to common stock | $ | 732 |  |  | $ | 892 |
Denominator (In thousands): |  |  |
Weighted-average outstanding shares used in the computation of earnings per share - basic | 454,731 |  |  | 466,462 |
Dilutive effect of share-based awards | 2,968 |  |  | 2,662 |
Weighted-average outstanding shares used in the computation of earnings per share - diluted | 457,699 |  |  | 469,124 |
Earnings per share: |  |  |
Basic | $ | 1.61 |  |  | $ | 1.91 |
Diluted | 1.60 |  |  | 1.90 |