Air Canada 2014 Annual Report Download - page 122

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122 2014 Annual Report
15. EARNINGS PER SHARE
The following table outlines the calculation of basic and diluted EPS:
IN MILLIONS, EXCEPT PER SHARE AMOUNTS 2014 2013
NUMERATOR:
NUMERATOR FOR BASIC AND DILUTED EARNINGS PER SHARE:
Net income attributable to shareholders of Air Canada $ 100 $ 6
DENOMINATOR:
WEIGHTED-AVERAGE SHARES 286 277
Effect of potential dilutive securities:
Stock options 7 4
Warrants - 2
Shares held in Trust for employee share-based compensation award - 1
Total potential dilutive securities 7 7
ADJUSTED DENOMINATOR FOR DILUTED EARNINGS PER SHARE 293 284
BASIC EPS $ 0.35 $ 0.02
DILUTED EPS $ 0.34 $ 0.02
The calculation of EPS is based on whole dollars and not on rounded millions. As a result, the above amounts may
not be recalculated to the per share amount disclosed above.
Basic EPS is calculated based on the weighted average number of common shares outstanding after deducting
shares held in trust for the purposes of the Employee Recognition Award. All of the remaining shares held in
trust for the Employee Recognition Award vested in 2014.
Excluded from the 2014 calculation of diluted EPS were 2,680,000 (2013 – 7,027,000) outstanding
options where the options’ exercise prices were greater than the average market price of the common
shares for the year.