BT 2004 Annual Report Download - page 96

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15. Earnings (loss) per share continued
The items in the calculation of earnings (loss) per share before goodwill amortisation and exceptional items in
the years were:
2004
pence
per share
2003
pence
per share
2002
pence
per share
2004
£m
2003
£m
2002
£m
Attributable to exceptional items and goodwill amortisation from
continuing activities:
Rectification costs (0.3) ––(30) ––
Goodwill amortisation (0.1) (0.3) (2.0) (12) (22) (162)
Property rationalisation costs –(2.3) – –(198) –
Goodwill impairment in subsidiary undertakings –– (23.5) –– (1,955)
Asset impairment in subsidiary undertakings –– (3.9) –– (324)
Costs relating to the Concert unwind –– (3.0) –– (253)
Costs relating to the demerger of mmO
2
–– (1.2) –– (98)
BT Retail call centre rationalisation costs –– (0.8) –– (68)
BT Wholesale bad debts release (costs) 0.2 – (0.9) 23 – (79)
Goodwill impairment in associates and joint ventures (0.3) – (5.2) (26) – (433)
Impairment of investment in associates and joint ventures and
release (charge) for related exit costs –1.8 (9.4) –150 (780)
Profit on sale of fixed asset investments 0.4 19.8 2.0 32 1,700 169
Loss on sale of group undertakings –(0.1) (1.8) –(9) (148)
Profit on sale of property fixed assets –– 12.8 –– 1,062
Amounts written off investments –– (6.4) –– (535)
Finance cost of novating interest rate swaps –(3.4) (2.0) –(293) (162)
Interest receivable on Yell loan notes 0.4 ––34 ––
Premium on repurchasing bonds (1.1) ––(89) ––
Tax credit 0.3 1.6 1.7 29 139 143
Minority interest –(0.1) – –(7) –
Net (charge) credit attributable to exceptional items and goodwill
amortisation from continuing activities (0.5) 17.0 (43.6) (39) 1,460 (3,623)
Attributable to discontinued activities:
Costs relating to the demerger of mmO
2
–– (0.1) –– (11)
Profit on sale of group undertakings –– 14.0 –– 1,160
Profit on sale of fixed asset investments –– 38.6 –– 3,208
Goodwill amortisation –– (3.0) –– (243)
Results of discontinued activities before goodwill amortisation and
exceptional items after tax and minority interest –– (2.7) –– (231)
Net credit attributable to discontinued activities –– 46.8 –– 3,883
Basic earnings per share/profit for the financial year
after goodwill amortisation and exceptional items 16.4 31.2 12.0 1,417 2,686 995
Less: Basic earnings per share/profit for the financial year attributable to
discontinued activities –– 46.8 –– 3,883
Basic earnings (loss) per share/profit (loss) for the financial year
before discontinued activities 16.4 31.2 (34.8) 1,417 2,686 (2,888)
Less: Basic (loss) earnings per share/(loss) profit for the financial year
attributable to exceptional items and goodwill amortisation from
continuing activities (0.5) 17.0 (43.6) (39) 1,460 (3,623)
Basic earnings per share/profit for the financial year from continuing
activities before goodwill amortisation and exceptional items 16.9 14.2 8.8 1,456 1,226 735
Earnings per share before goodwill amortisation and exceptional items is provided to help readers evaluate
the performance of the group.
BT Annual Report and Form 20-F 200495 Notes to the financial statements