ACCIONA, S.A. AND SUBSIDIARIES (Consolidated Group ...

These assets or disposal groups are measured at the lower of carrying amount and fair value less
costs to sell, and depreciation on such assets ceases from the time they are classified as “Non-
Current Assets Classified as Held for Sale”. However, at the date of each consolidated balance
sheet the related valuation adjustments are made to ensure that the carrying amount is not higher
than fair value less costs to sell.
The non-current assets held for sale and the components of the disposal groups classified as held
for sale are presented in the accompanying consolidated balance sheet as follows: the assets as a
single line item called “Non-Current Assets Classified as Held for Sale and Discontinued
Operations” and the liabilities also as a single line item called “Liabilities Associated with Non-
Current Assets Classified as Held for Sale and Discontinued Operations”.
The profit after tax of discontinued operations is presented as a single line item in the consolidated
income statement as “Profit after Tax from Discontinued Operations”.
Additionally, at its meeting held on 16 December 2010 the Board of Directors of Acciona, S.A.
approved a plan to sell a series of assets belonging to its Real Estate division, as well as
concession assets in operation belonging to its Infrastructure division. In addition, the Compañía
Trasmediterránea Subgroup took out of service and put up for sale certain vessels.
At 31 December 2010, the value of these assets was recognised under “Non-Current Assets
Classified as Held-for-Sale and Discontinued Operations" in the accompanying consolidated
balance sheet. The liabilities directly related to these assets were recognised under “Liabilities
Associated with Non-Current Assets Classified as Held for Sale". None of these assets constitute a
line of business within the Acciona Group.
In 2011 most of these assets were sold, although certain others remain unsold (see Note 24) for
which an active disposal plan remains in place.
U) Earnings per share
Basic earnings per share are calculated by dividing net profit or loss attributable to the Parent by
the weighted average number of ordinary shares outstanding during the year, excluding the
average number of shares of the Parent held by the Group companies.
Diluted earnings per share are calculated by dividing net profit or loss attributable to ordinary
shareholders adjusted by the effect attributable to the dilutive potential ordinary shares by the
weighted average number of ordinary shares outstanding during the year, adjusted by the
weighted average number of ordinary shares that would have been outstanding assuming the
conversion of all the potential ordinary shares into ordinary shares of the Parent. For these
purposes, it is considered that the shares are converted at the beginning of the year or at the date
of issue of the potential ordinary shares, if the latter were issued during the current period. Since
the Group does not have any dilutive potential ordinary shares, the basic earnings per share and
the diluted earnings per share for 2011 and 2010 coincide.
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