Barclays 2009 Annual Report Download - page 219

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11 Earnings per share
2009 2008 2007
£m £m £m
Continuing operations
Profit attributable to equity holders of Parent 2,628 3,795 3,886
Dilutive impact of convertible options (17) (19) (15)
Profit attributable to equity holders of Parent including dilutive impact of convertible options 2,611 3,776 3,871
Discontinued operations 6,765 587 531
2009 2008 2007
million million million
Basic weighted average number of shares in issue 10,890 7,389 6,410
Number of potential ordinary shares 594 188 177
Diluted weighted average number of shares 11,484 7,577 6,587
ppp
Basic earnings per share 86.2 59.3 68.9
Continuing operations 24.1 51.4 60.6
Discontinued operations 62.1 7.9 8.3
Diluted earnings per share 81.6 57.5 66.9
Continuing operations 22.7 49.8 58.8
Discontinued operations 58.9 7.7 8.1
The calculation of basic earnings per share is based on the profit attributable to equity holders of the Parent and the number of basic weighted average
number of shares excluding own shares held in employee benefits trusts and shares held for trading.
The basic weighted average number of shares in issue in the year ended 31st December 2009 reflects the full year impact of the 1,803 million shares issued
during 2008, the 2,642 million shares that were issued during the first six months of 2009 following conversion in full of the Mandatorily Convertible Notes,
and the weighted average impact of the 379 million warrants exercised during 2009. The increase in the number of potential ordinary shares is primarily
driven by the warrants issued in 2008 becoming dilutive in 2009 as the average share price exceeded the warrants’ exercise price.
When calculating the diluted earnings per share, the profit attributable to equity holders of the Parent is adjusted for the dilutive impact of the potential
conversion of outstanding options held in respect of Absa Group Limited that would increase the Group’s non-controlling interests on exercise. In addition,
the weighted average number of shares in issue is adjusted for the effects of all dilutive potential ordinary shares held in respect of Barclays PLC, totalling
594 million (2008: 188 million, 2007: 177 million).
Of the total number of employee share options and share awards at 31st December 2009, 97 million were anti-dilutive (2008: 64 million, 2007: nil).
Subsequent to the balance sheet date, the Group continued to make on-market purchases of treasury shares for the purposes of satisfying its various
employee share schemes. No adjustment has been made to earnings per share in respect of these purchases.
12 Trading portfolio
2009 2008
£m £m
Trading portfolio assets
Treasury and other eligible bills 9,926 4,544
Debt securities 116,594 148,686
Equity securities 19,602 30,535
Traded loans 2,962 1,070
Commodities 2,260 802
Trading portfolio assets 151,344 185,637
Trading portfolio liabilities
Treasury and other eligible bills (381) (79)
Debt securities (44,327) (44,309)
Equity securities (6,468) (14,919)
Commodities (76) (167)
Trading portfolio liabilities (51,252) (59,474)
As disclosed in Note 51, £8,027m of collateralised loan obligations were reclassified from the trading portfolio to loans and receivables during the year.