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170
Telkom Annual Report 2009
Notes to the consolidated annual financial statements (continued)
for the three years ended March 31, 2009
10. EARNINGS PER SHARE (continued)
2007 2008 2009
Reconciliation of weighted average number of ordinary shares:
Ordinary shares in issue (refer to note 22) 544,944,901 532,855,530 520,784,186
Weighted average number of shares bought back (7,442,253) (1,594,241) (27)
Weighted average number of treasury shares (23,161,364) (21,666,197) (20,083,621)
Weighted average number of shares outstanding 514,341,284 509,595,092 500,700,538
Reconciliation of diluted weighted average number of ordinary shares
Weighted average number of shares outstanding 514,341,284 509,595,092 500,700,538
Expected future vesting of shares 1,422,297 5,946,876 8,082,103
Diluted weighted average number of shares outstanding 515,763,581 515,541,968 508,782,641
Gross** Net
Total operations Rm Rm
2009
Reconciliation between earnings and headline earnings:
Earnings as reported 4,170
Profit on disposal of property, plant and equipment and intangible assets (25) (21)
Impairment loss on property, plant and equipment and intangible assets 557 557
Write-offs of property, plant and equipment and intangible assets 322 274
Headline earnings 4,980
2008
Reconciliation between earnings and headline earnings:
Earnings as reported 7,975
Profit on disposal of investments (available-for-sale) (4) (3)
Profit on disposal of property, plant and equipment and intangible assets (147) (104)
Impairment loss on property, plant and equipment and intangible assets 248 244
Write-offs of property, plant and equipment and intangible assets 285 219
Headline earnings 8,331
2007
Reconciliation between earnings and headline earnings:
Earnings as reported 8,646
Profit on disposal of investments (available-for-sale) (52) (37)
Profit on disposal of property, plant and equipment and intangible assets (29) (21)
Reversal of impairment loss on property, plant and equipment and intangible assets 12 9
Write-offs of property, plant and equipment and intangible assets 284 202
Headline earnings 8,799
* The disclosure of headline earnings is a requirement of the JSE Limited and is not a recognised measure under IFRS. It has been calculated in accordance
with the South African Institute of Chartered Accountants’ circular issued in this regard.
** These are the gross amounts, before deducting taxation and minority interests.