Food Lion 2014 Annual Report Download - page 151

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DELHAIZE GROUP FINANCIAL STATEMENTS 2014 // 147
Borrowing costs attributable to the construction or production of qualifying assets were capitalized using an average interest rate
of 5.4%, 5.5% and 5.6% in 2014, 2013 and 2012, respectively.
29.2 Income from Investments
(in millions of €)
Note
2014
2013
2012
Interest and dividend income from bank deposits and securities
11
9
5
Gains on disposal of securities
—
—
6
Foreign currency gains on financial assets
30
28
—
3
Fair value gains (losses) on currency swaps and foreign exchange forward contracts
(26)
—
—
Other investing income
3
—
2
Total
16
9
16
In 2014, Delhaize Group recognized foreign currency gains on financial assets in connection with intercompany financing in
USD, which were economically hedged by external cross currency swaps (see Note 19).
No impairment losses on financial assets were incurred during 2014 (none in 2013 and none in 2012).
30. Net Foreign Exchange Losses (Gains)
The exchange differences charged (credited) to the income statement, excluding the impact of hedge accounting and economic
hedges, were as follows:
(in millions of €)
Note
2014
2013
2012
Cost of sales
—
—
1
Selling, general and administrative expenses
1
—
(2)
Finance costs
29.1
22
14
12
Income from investments
29.2
(28)
—
(3)
Total
(5)
14
8
31. Earnings Per Share (“EPS”)
Basic earnings per share is calculated by dividing the profit attributable to equity holders of the Group’s parent entity by the
weighted average number of ordinary shares outstanding during the year, excluding ordinary shares bought by the Group and
held as treasury shares (see Note 16).
Diluted earnings per share is calculated by adjusting the weighted average number of ordinary shares outstanding to assume
conversion of all potential dilutive ordinary shares. The Group only has dilutive potential share-based awards (see Note 21.3).
Dilutive share-based awards are assumed to have been exercised, and the assumed proceeds from these instruments are
regarded as having been received from the issue of ordinary shares at the average market price of ordinary shares during the
period. The difference between the number of ordinary shares issued and the number of ordinary shares that would have been
issued at the average market price of ordinary shares during the period is treated as an issue of ordinary shares for no
consideration.
Approximately 2 581 424, 3 982 153, 4 581 153 shares attributable to the exercise of outstanding stock options and warrants
were excluded from the calculation of diluted earnings per share for 2014, 2013 and 2012, respectively, as their effect was anti-
dilutive because their average exercise price was higher than the average market price during the year.
Basic and diluted earnings per share for 2014, 2013 and 2012 were as follows:
Delhaize Group Annual Report 2014 • 149