financial report and registration document 2011 - Groupe SEB

NOTE 9 EARNINGS PER SHARE
Financial Report and Registration Document 2011
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Consolidated fi nancial statements
Notes to the consolidated fi nancial statements
(in € millions) 2011 2010 2009
Numerator
Profi t for the period
After tax effect of dilutive potential ordinary shares
234.6 220.4 146.0
Profi t used to calculate diluted earnings per share
Denominator
Weighted average number of ordinary shares used to calculate basic
234.6 220.4 146.0
earnings per share 47,886,341 47,414,375 46,476,548
Effect of dilutive potential ordinary shares
Weighted average number of ordinary shares used to calculate diluted
1,156,943 1,000,136 86,774
earnings per share 49,043,284 48,414,511 46,563,322
Basic earnings per share (in €) 4.90 4.65 3.14
Diluted earnings per share (in €) 4.78 4.55 3.13
The potential dilution is mainly due to the various stock option plans (see Note 19.2).
NOTE 10 INTANGIBLE ASSETS
In accordance with IAS 38, intangible assets with an indefi nite useful life –
corresponding to trademarks and goodwill – are no longer amortised but
are tested for impairment at each year-end. The impairment testing method
is described in Note 1.4.
2011
(in € millions)
Patents and
licences Trademarks Goodwill Software
Intangible assets with a fi nite useful life are amortised by the straight-line
method over their estimated useful life. Amortisation expense is included in
“Operating result from activity” (formerly “Operating margin”).
The Group also holds certain trademarks – such as the Tefal international
brands and the SEB and Calor regional brands – which are not recognised
in the balance sheet.
Development
costs Other Total
Cost
At 1 January 19.9 328.0 445.0 40.6 30.9 70.1 934.5
Acquisitions and additions 7.3 5.2 6.1 18.6
Disposals (2.6) (4.4) (7.0)
Other movements (a) 25.7 38.9 18.4 4.4 (13.2) 74.2
Translation adjustment (0.1) 8.4 28.6 (0.9) 3.1 39.1
AT 31 DECEMBER
Amortisation and impairment losses
19.8 362.1 512.5 63.7 35.2 66.1 1,059.4
At 1 January 16.8 7.1 35.9 30.5 20.6 15.8 126.7
Translation adjustment 0.3 1.7 (1.0) 0.4 1.4
Amortisation for the period 0.3 8.5 6.5 1.8 17.1
Impairment losses
Amortisation and impairment losses
10.4 (0.3) 0.3 10.4
written off on disposals (2.4) (4.0) (6.4)
Other movements (a) 6.1 (6.1) 0.0
AT 31 DECEMBER 17.1 7.4 48.0 41.7 22.8 12.2 149.2
Carrying amount at 1 January 3.1 320.9 409.1 10.1 10.3 54.3 807.8
CARRYING AMOUNT
AT 31 DECEMBER 2.7 354.7 464.5 22.0 12.4 53.9 910.2
(a) Including changes in scope of consolidation.
GROUPE SEB
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