Merck 2008 Annual Report Download - page 102

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[15] Earnings per share
Basic earnings per share are calculated by dividing the net profit after minority inter-
est by the weighted average number of theoretical shares outstanding. The use of a
theo retical number of shares takes into account the fact that the general partner’s cap-
ital is not represented by shares. In accordance with the division of the share capital in
the amount of € 168.0 million into 64,621,126 shares, the general partner’s capital
amounts to € 397.2 million or 152,767,813 theoretical shares. Overall, the total capital
thus amounts to € 565.2 million or 217,388,939 theoretical shares. It should be noted
that in accordance with IAS 33, the 8,000 shares issued in 2008 by the Merck stock
option program may only be included in basic earnings per share on a time propor-
tionate basis from the date of their conversion.
Earnings per share from continuing operations
2008 2007
Earnings after minority interest (€ million) 367.1 –107.9
Weighted average number of theoretical
shares outstanding (in millions) 217.4 215.9
Basic earnings per share (€) 1.69 –0.50
Earnings per share from continuing and discontinued operations
2008 2007
Earnings after minority interest (€ million) 367.1 3,500.1
Weighted average number of theoretical
shares outstanding (in millions) 217.4 215.9
Basic earnings per share (€) 1.69 16.21
As of December 31, 2008, there were no potentially dilutive shares. Details on the
stock option programs, which expired on April 8, 2008, can be found in Note [32]
Net equity to these financial statements.
72 Income Statement
73 Balance Sheet
74 Segment Reporting
CONSOLIDATED FINANCIAL STATEMENTS OF THE MERCK GROUP
76 Cash Flow Statement
77 Free Cash Flow
77 Statement of Recognized
Income and Expense
78 Statement of Changes
in Net Equity including
Minority Interest
79 Notes
97