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Strategic Report Corporate Governance Financial Statements Additional Information
7. Earnings per share (EPS)
EPS is the amount of post-tax profit attributable to each ordinary share. Basic EPS is calculated on profit for theyear attributable to
equity shareholders divided by the weighted average number of shares in issue during the year. Diluted EPS shows what the impact
would be if all outstanding share options were exercised and treated as ordinary shares at year end.
Adjusted EPS, excluding exceptional items, remeasurements and stranded cost recoveries, are provided to reflect the business
performance subtotals used by the Company. For further details of exceptional items, remeasurements and stranded cost recoveries,
see note 4.
(a) Basic earnings per share
Earnings
2014
£m
Earnings
per share
2014
pence
Earnings
2013
(restated)1
£m
Earnings
per share
2013
(restated)1,2
pence
Earnings
2012
(restated)1
£m
Earnings
per share
2012
(restated)1,2
pence
Adjusted earnings 2,015 54.0 1,913 51.4 1,709 46.0
Exceptional items after tax 388 10.4 75 2.0 174 4.7
Remeasurements after tax 73 2.0 156 4.2 (122) (3.3)
Stranded cost recoveries after tax – – 90.2 156 4.2
Earnings 2,476 66.4 2,15 3 57. 8 1,917 51.6
2014
millions
2013
millions
2012
millions
Weighted average number of shares – basic23,729 3,724 3,719
1. See note 1 on page 92.
2. Comparative amounts have been restated to reflect the impact of additional shares issued as scrip dividends.
(b) Diluted earnings per share
Earnings
2014
£m
Earnings
per share
2014
pence
Earnings
2013
(restated)1
£m
Earnings
per share
2013
(restated)1,2
pence
Earnings
2012
(restated)1
£m
Earnings
per share
2012
(restated)1,2
pence
Adjusted earnings 2,015 53.8 1,913 51.1 1,709 45.7
Exceptional items after tax 388 10.4 75 2.0 174 4.7
Remeasurements after tax 73 1.9 156 4.2 (122) (3.3)
Stranded cost recoveries after tax – – 90.2 156 4.2
Earnings 2,476 66.1 2,153 57.5 1,917 51.3
2014
millions
2013
millions
2012
millions
Weighted average number of shares – diluted23,748 3,742 3,738
1. See note 1 on page 92.
2. Comparative amounts have been restated to reflect the impact of additional shares issued as scrip dividends.
(c) Reconciliation of basic to diluted average number of shares
2014
millions
2013
millions
2012
millions
Weighted average number of ordinary shares – basic 3,729 3,724 3,719
Effect of dilutive potential ordinary shares – employee share plans 19 18 19
Weighted average number of ordinary shares – diluted 3,748 3,742 3,738
107