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) | 2021 | 2020 |
|---|---|---|
| (in millions of euros) Net income attributable to ordinary shares |
2021 5,113 |
2020 650 |
(in millions of euros)
|
20215,114 | 2020804 |
(in millions of euros)
|
2021(1) | 2020(154) |
| (in millions of euros) Payments on perpetual subordinated bonds |
2021 (547) |
2020 (501) |
| (in millions of euros)Net income used to calculate earnings per share | 20214,566 | 2020149 |
(in millions of euros)
|
20214,567 | 2020303 |
(in millions of euros)
|
2021(1) | 2020(154) |
| (in millions of euros) Cancellation of the effect of dilutive instruments |
2021 2 |
2020 1 |
| (in millions of euros)Net income used to calculate diluted earnings per share | 20214,567 | 2020150 |
(in millions of euros)
|
20214,568 | 2020304 |
(in millions of euros)
|
2021(1) | 2020(154) |
| (in millions of euros)Average weighted number of ordinary shares outstanding during the year | 20213,138,060,309 | 20203,106,323,609 |
| (in millions of euros) Effect of dilutive instruments |
2021 222,574,780 |
2020 9,149,131 |
| (in millions of euros)Average weighted number of diluted shares outstanding during the year | 20213,360,635,089 | 20203,115,472,740 |
| (in millions of euros)Earnings per share (in euros) | 2021
|
2020
|
| (in millions of euros)BASIC EARNING PER SHARE | 20211.46 | 20200.05 |
| (in millions of euros)DILUTED EARNINGS PER SHARE | 20211.36 | 20200.05 |
| (in millions of euros)BASIC EARNINGS PER SHARE OF CONTINUING OPERATIONS | 20211.46 | 20200.10 |
| (in millions of euros)DILUTED EARNINGS PER SHARE OF CONTINUING OPERATIONS | 20211.36 | 20200.10 |
| (in millions of euros)BASIC EARNINGS PER SHARE OF DISCONTINUED OPERATIONS | 2021- | 2020(0.05) |
| (in millions of euros)DILUTED EARNINGS PER SHARE OF DISCONTINUED OPERATIONS | 2021- | 2020(0.05) |
On 8 September 2020, EDF issued unsecured senior Green Bonds convertible into new shares and/or exchangeable for existing shares of the Company (OCEANEs Vertes, see note 18.3.2.2). The diluted earnings per share incorporates the impact of conversion of these bonds and adjustment of the conversion/exchange ratio following capital increases undertaken during the year.
