bold spirit - ArcelorMittal South Africa

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ArcelorMittal South Africa
Annual Report 2010
Notes to the group and company annual financial statements continued
for the year ended 31 December 2010
Group
2010
Rm
2009
Rm
2010
Rm
Company
2009
Rm
11. EARNINGS/(LOSSES) PER SHARE
Basic earnings per share is calculated by
dividing profit attributable to the owners of
the company by the weighted average number
of ordinary shares, held by third parties.
The weighted average number of shares is
calculated taking into account the shares
issued as disclosed in the Directors’ Report
and note 29.
Profit/(loss) attributable to owners of the
company (Rm) 1 345 (478)
Weighted average number of ordinary shares
in issue (thousands) 401 202 423 050
Basic earnings/(loss) per share (cents) 335 (113)
Diluted earnings per share is calculated by
dividing the profit/loss attributable to the owners
of the company by the weighted average number
of ordinary shares, held by third parties increased
by the number of additional ordinary shares
that would have been outstanding assuming
the conversion of all outstanding share options
representing dilutive potential ordinary shares.
Profit/(loss) attributable to owners of the
company (Rm) 1 345 (478)
– Weighted average number of diluted shares
(thousands) 401 532 423 684
Diluted (loss)/earnings per share (cents) 335 (113)
The calculation for headline earnings/(loss) per share is based on the basic earnings per share calculation, reconciled
as follows:
Group
Company
2010
Gross
Rm
2009
Gross net
of tax
Rm
2010
Gross
Rm
2009
Gross net
of tax
Rm
Profit/(loss) attributable to owners of the
company 1 345 (478)
Plus IAS16 loss on disposal or scrapping
of property, plant and equipment 44 32 29 21
Plus impairment charge against property,
plant and equipment 26 26
Less impairment reversal on equity-accounted
investments (9) (9)
Headline earnings/(loss) 1 377 (440)