Exhibit 11
CenturyTel, Inc.
COMPUTATIONS OF EARNINGS PER SHARE
(UNAUDITED)
Three months | ||||||||
ended March 31, | ||||||||
2010 | 2009 | |||||||
(Dollars, except per share amounts, | ||||||||
and shares in thousands) | ||||||||
Income (Numerator): | ||||||||
Net income attributable to CenturyTel, Inc. | $ | 252,601 | 67,154 | |||||
Dividends applicable to preferred stock | (3 | ) | (3 | ) | ||||
Earnings applicable to unvested restricted stock | (1,138 | ) | (870 | ) | ||||
Net income applicable to common stock for | ||||||||
computing basic earnings per share | 251,460 | 66,281 | ||||||
Dividends applicable to preferred stock | 3 | 3 | ||||||
Net income as adjusted for purposes of computing | ||||||||
diluted earnings per share | $ | 251,463 | 66,284 | |||||
Shares (Denominator): | ||||||||
Weighted average number of shares: | ||||||||
Outstanding during period | 299,547 | 100,427 | ||||||
Unvested restricted stock | (1,349 | ) | (1,301 | ) | ||||
Unvested restricted stock units | 1,215 | - | ||||||
Weighted average number of shares outstanding during | ||||||||
period for computing basic earnings per share | 299,413 | 99,126 | ||||||
Incremental common shares attributable to dilutive securities: | ||||||||
Shares issuable under convertible securities | 13 | 13 | ||||||
Shares issuable under incentive compensation plans | 571 | 5 | ||||||
Number of shares as adjusted for purposes of computing | ||||||||
diluted earnings per share | 299,997 | 99,144 | ||||||
Basic earnings per share | $ | .84 | .67 | |||||
Diluted earnings per share | $ | .84 | .67 |