Barclays 2003 Annual Report Download - page 195
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Barclays PLC Annual Report 2003 193
61 Differences between UK GAAP and US GAAP accounting principles (continued)
(g) Earnings per share
2003 2002 2001
Weighted Weighted Weighted
average Per-share average Per-share average Per-share
Income share no. amount Income share no. amount Income share no. amount
£m (in millions) pence £m (in millions) pence £m (in millions) pence
Basic EPS
Net income
(US GAAP) available to
ordinary shareholders 1,740 6,483 26.8 2,476 6,626 37.4 2,695 6,651 40.5
Effect of dilutive securities
Employee share options 26 40 60
Other schemes 61 (6) 4
Diluted EPS 1,740 6,570 26.5 2,476 6,660 37.2 2,695 6,715 40.1
Net income for the year ended 31st December 2001, adjusted to exclude the amortisation expense related to goodwill of £199m which is no longer
amortised following adoption of SFAS 142, was £2,894m. The impact on 2001 EPS of this adjustment would have been to increase both basic and
diluted EPS by 3.0p to 43.5p and 43.1p respectively.
UK EPS is detailed in Note 12. Of the total number of employees’ share options existing at the year end, the following were not included in the
dilution calculation above because they were antidilutive:
2003 2002 2001
in millions in millions in millions
Number of options 116 80 52
Certain incentive plan shares have been excluded from the calculation of the basic EPS. These shares are subsequently brought into the diluted
earnings per share calculation (called ‘Other schemes’) above.
(h) Fair value of securities
Unlisted investment equity securities are outside the scope of SFAS 115 ‘Accounting for Certain Investments in Debt and Equity Securities’. Where the
securities are held by an investment company within the Group, the securities are carried at fair value. The unlisted equity securities have a cost of
£944m at 31st December 2003 (2002: £456m), with a fair value of £1,109m (2002: £456m).
All long investment securities are classified as being ‘available for sale’ unless the Group has a clear intention and ability to hold them to maturity.
Other debt securities are classified as trading securities (see Note 17).