The diluted earnings per share is calculated by dividing the Group’s share of net income, corrected for dilutive instruments and the payments made during the year to bearers of perpetual subordinated bonds, by the weighted average number of potential shares outstanding over the period after elimination of treasury shares.
The following table shows the reconciliation of the basic and diluted earnings used to calculate earnings per share (basic and diluted), and the variation in the weighted average number of shares used in calculating basic and diluted earnings per share:
| (in millions of euros) | 2019 | 2018 |
|---|---|---|
| Net income attributable to ordinary shares | Net income attributable to ordinary shares 2019 5,155 | Net income attributable to ordinary shares 2018 1,177 |
| EDF net income from continuing operations | EDF net income from continuing operations 2019 5,597 | EDF net income from continuing operations 2018 1,384 |
| EDF net income from discontinued operations | EDF net income from discontinued operations 2019 (442) | EDF net income from discontinued operations 2018 (207) |
| Payments on perpetual subordinated bonds | Payments on perpetual subordinated bonds 2019 (589) | Payments on perpetual subordinated bonds 2018 (584) |
| Effect of dilutive instruments | Effect of dilutive instruments 2019 - | Effect of dilutive instruments 2018 - |
| Net income used to calculate earnings per share | Net income used to calculate earnings per share 2019 4,566 | Net income used to calculate earnings per share 2018 593 |
| from continuing operations | from continuing operations 2019 5,008 | from continuing operations 2018 800 |
| from discontinued operations | from discontinued operations 2019 (442) | from discontinued operations 2018 (207) |
| Average weighted number of ordinary shares outstanding during the year | Average weighted number of ordinary shares outstanding during the year 2019 3,029,504,511 | Average weighted number of ordinary shares outstanding during the year 2018 2,968,327,473 |
| Average weighted number of diluted shares outstanding during the year | Average weighted number of diluted shares outstanding during the year 2019 3,029,504,511 | Average weighted number of diluted shares outstanding during the year 2018 2,968,327,473 |
| Earnings per share (in euros): | ||
| BASIC EARNINGS PER SHARE | BASIC EARNINGS PER SHARE 2019 1.50 | BASIC EARNINGS PER SHARE 2018 0.20 |
| DILUTED EARNINGS PER SHARE | DILUTED EARNINGS PER SHARE 2019 1.50 | DILUTED EARNINGS PER SHARE 2018 0.20 |
| BASIC EARNINGS PER SHARE OF CONTINUING OPERATIONS | BASIC EARNINGS PER SHARE OF CONTINUING OPERATIONS 2019 1.65 | BASIC EARNINGS PER SHARE OF CONTINUING OPERATIONS 2018 0.27 |
| DILUTED EARNINGS PER SHARE OF CONTINUING OPERATIONS | DILUTED EARNINGS PER SHARE OF CONTINUING OPERATIONS 2019 1.65 | DILUTED EARNINGS PER SHARE OF CONTINUING OPERATIONS 2018 0.27 |
| BASIC EARNINGS PER SHARE OF DISCONTINUED OPERATIONS | BASIC EARNINGS PER SHARE OF DISCONTINUED OPERATIONS 2019 (0.15) | BASIC EARNINGS PER SHARE OF DISCONTINUED OPERATIONS 2018 (0.07) |
| DILUTED EARNINGS PER SHARE OF DISCONTINUED OPERATIONS | DILUTED EARNINGS PER SHARE OF DISCONTINUED OPERATIONS 2019 (0.15) | DILUTED EARNINGS PER SHARE OF DISCONTINUED OPERATIONS 2018 (0.07) |
In 2019, payment of the outstanding scrip dividend for 2018 and the interim dividend for 2019 led to an increase in the share capital and an issue premium totalling €881 million, corresponding to the issuance of 93,353,410 shares.
Goodwill on consolidated entities comprises the following:
| (in millions of euros) | 31/12/2019 | 31/12/2018 |
|---|---|---|
| Net book value at opening date | Net book value at opening date 31/12/2019 10,195 | Net book value at opening date 31/12/2018 10,036 |
| Acquisitions | Acquisitions 31/12/2019 66 | Acquisitions 31/12/2018 116 |
| Disposals | Disposals 31/12/2019 - | Disposals 31/12/2018 - |
| Impairment (note 14) | Impairment (note 14) 31/12/2019 (57) | Impairment (note 14) 31/12/2018 - |
| Translation adjustments | Translation adjustments 31/12/2019 392 | Translation adjustments 31/12/2018 (61) |
| Other changes | Other changes 31/12/2019 27 | Other changes 31/12/2018 104 |
| NET BOOK VALUE AT CLOSING DATE | NET BOOK VALUE AT CLOSING DATE 31/12/2019 10,623 | NET BOOK VALUE AT CLOSING DATE 31/12/2018 10,195 |
| Gross value at closing date | Gross value at closing date 31/12/2019 11,418 | Gross value at closing date 31/12/2018 10,960 |
| Accumulated impairment at closing date | Accumulated impairment at closing date 31/12/2019 (795) | Accumulated impairment at closing date 31/12/2018 (765) |
The changes in goodwill in 2019 primarily related to:
The changes in goodwill in 2018 primarily related to the revised goodwill following finalisation of the business combination accounts for the acquisition of Framatome at 31 December 2017 (€58 million), Edison’s acquisition of Edison Energie (formerly GNVI) and Attiva in Italy (for €80 million and €13 million respectively), and translation adjustments of €(61) million, largely reflecting the pound sterling’s rise against the euro.
