Mercedes 1998 Annual Report Download - page 114

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Basic earnings per share:
Income before extraordinary item 4,949 6,547 4,169
Less: preferred stock dividends – (1) (3)
4,949 6,546 4,166
Weighted average number of shares
outstanding 959.3 949.3 981.6
Basic earnings per share 5.16 6.90 4.24
Non-recurring items1) 0.42 (2.62) –
Basic earnings per share excluding
non-recurring items 5.58 4.28 4.24
Diluted earnings per share:
Income before extraordinary item 4,949 6,547 4,169
Interest expense on convertible bonds
and notes (net of tax) 20 19 4
4,969 6,566 4,173
Weighted average number of shares
outstanding 959.3 949.3 981.6
Dilutive effect on convertible bonds
and notes 19.8 12.8 4.0
Shares issued on exercise of dilutive
options 18.3 17.7 16.5
Shares purchased with proceeds of
options (11.8) (13.5) (11.9)
Shares applicable to convertible
preferred stock 0.2 0.8 2.7
Shares contingently issuable 1.3 1.1 1.1
987.1 968.2 994.0
Diluted earnings per share 5.04 6.78 4.20
Non-recurring items1) 0.41 (2.57) –
Diluted earnings per share
excluding non-recurring items 5.45 4.21 4.20
1998 24,918 23,550 65,300 11,519 4,311 2,184 131,782
1997 21,317 20,798 56,615 10,576 5,587 2,679 117,572
1996 20,316 16,954 49,485 7,152 5,058 2,450 101,415
Other Other
European American Other Consoli-
Revenues
Germany countries U.S.A. countries Asia countries dated
31. EARNINGS PER SHARE
Earnings per share are determined as follows:
At December 31,
1998 1997 1996
1996: 18,881) and other countries for € 11,309 (1997: 9,797;
1996: 5,808).
Germany accounts for € 12,953 of long-term assets (1997:
12,040; 1996: 11,160), the U.S.A. for € 25,344 (1997: 22,632;
1) Non-recurring items comprise merger costs of € 401 (net of tax) in 1998 and tax benefits relating to a special distribution and to a decrease of the
valuation allowance of € 2,490 in 1997.
110
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS