BT 2004 Annual Report Download - page 95

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15. Earnings (loss) per share
The basic earnings (loss) per share are calculated by dividing the profit for the financial year attributable to
shareholders by the weighted average number of shares in issue after deducting the company’s shares held by
employee share ownership trusts and treasury shares.
In calculating the diluted earnings (loss) per share, share options outstanding and other potential ordinary
shares have been taken into account.
The weighted average number of shares in the years were: 2004
millions
of shares
2003
millions
of shares
2002
millions
of shares
Basic 8,621 8,616 8,307
Dilutive ordinary shares from share options outstanding and shares held in trust 55 52 70
Total diluted 8,676 8,668 8,377
Options over 259 million shares (2003 – 177 million, 2002 – 16 million) were excluded from the calculation of
the total diluted number of shares as they were anti-dilutive.
BT Annual Report and Form 20-F 200494 Notes to the financial statements