Aflac (AFL) 10-Q 2013 Q3 Quarterly report

Aflac Incorporated 3rd Quarter 2013 Form 10-Q

EXHIBIT 11

Aflac Incorporated and Subsidiaries

Computation of Earnings Per Share

	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
Numerator (In millions):
Basic and diluted: net earnings applicable to common stock	$	702	$	1,017	$	2,483	$	2,285
Denominator (In thousands):
Weighted-average outstanding shares used in the computation of earnings per share - basic	464,324		467,422		465,325		466,702
Dilutive effect of share-based awards	3,067		2,299		2,727		2,249
Weighted-average outstanding shares used in the computation of earnings per share - diluted	467,391		469,721		468,052		468,951
Earnings per share:
Basic	$	1.51	$	2.17	$	5.34	$	4.90
Diluted	1.50		2.16		5.31		4.87