Annual report 2010 - Dexia.com

Notes to the consolidated financial statements11.17. Earnings per shareBasicBasic earnings per share are calculated by dividing the net income attributable to equity holders of the parent by the weightedaverage number of ordinary shares in issue during the year, excluding the average number of ordinary shares purchased by thecompany and held as treasury shares.31/12/09 31/12/10Net income attributable to equity holders of the parent 1,010 723Weighted average number of ordinary shares (millions) (1) 1,846 1,846Basic earnings per share (expressed in EUR per share) (1) 0.55 0.39(1) Figures as at 31 December 2009 have been restated to consider the issuance of new ordinary shares free of charge (bonus shares), distributed to theshareholders.DilutedDiluted earnings per share are calculated by adjusting the weighted average number of ordinary shares outstanding to assumeconversion of all dilutive potential ordinary shares resulting from share options granted to employees.For the share options, a calculation is done to determine the number of shares that could have been acquired at fair value(determined as the average share price of the company's shares for the financial year) based on the monetary value of thesubscription rights attached to outstanding share options.The number of shares calculated as above is compared with the number of shares that would have been issued assuming theexercise of the shares options.The potential ordinary shares calculated as above are treated as dilutive when, and only when, their conversion to ordinaryshares would decrease earnings per share.They are antidilutive and not taken into account when their conversion to ordinary shares would decrease loss per share.No adjustment is made to net income attributable to equity holders of the parent as there are no financial instrumentsconvertible in Dexia shares.31/12/09 31/12/10Net income attributable to equity holders of the parent 1,010 723Weighted average number of ordinary shares (millions) (1) 1,846 1,846Adjustment for share options (millions) 0 0Weighted average number of ordinary shares for diluted earnings per share(millions) (1) 1,846 1,846Diluted earnings per share (expressed in EUR per share) (1) 0.55 0.39(1) Figures as at 31 December 2009 have been restated to consider the issuance of new ordinary shares free of charge (bonus shares), distributed to theshareholders.Management reportConsolidatedfinancial statementsAdditional information Annual financial statementsAnnual report 2010 Dexia203