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) | 2022 | 2021 |
|---|---|---|
| Net income attributable to ordinary shares | Net income attributable to ordinary shares 2022 (17,940) |
Net income attributable to ordinary shares 20215,113 |
| EDF net income from continuing operations | EDF net income from continuing operations 2022 (17,946) |
EDF net income from continuing operations20215,114 |
| EDF net income from discontinued operations | EDF net income from discontinued operations 2022 6 |
EDF net income from discontinued operations2021(1) |
| Payments on perpetual subordinated bonds | Payments on perpetual subordinated bonds 2022 (606) |
Payments on perpetual subordinated bonds 2021(547) |
| Net income used to calculate earnings per share | Net income used to calculate earnings per share 2022 (18,546) |
Net income used to calculate earnings per share20214,566 |
| from continuing operations | from continuing operations 2022 (18,552) |
from continuing operations20214,567 |
| from discontinued operations | from discontinued operations 2022 6 |
from discontinued operations2021(1) |
| Cancellation of the effect of dilutive instruments | Cancellation of the effect of dilutive instruments 2022 2 |
Cancellation of the effect of dilutive instruments 20212 |
| Net income used to calculate diluted earnings per share | Net income used to calculate diluted earnings per share 2022 (18,544) |
Net income used to calculate diluted earnings per share20214,567 |
| from continuing operations | from continuing operations 2022 (18,550) |
from continuing operations20214,568 |
| from discontinued operations | from discontinued operations 2022 6 |
from discontinued operations2021(1) |
| Average weighted number of ordinary shares outstanding during the year | Average weighted number of ordinary shares outstanding during the year 2022 3,683,790,611 |
Average weighted number of ordinary shares outstanding during the year20213,138,060,309 |
| Effect of dilutive instruments | Effect of dilutive instruments 2022 244,227,763 |
Effect of dilutive instruments 2021222,574,780 |
| Average weighted number of diluted shares outstanding during the year | Average weighted number of diluted shares outstanding during the year 2022 3,928,018,374 |
Average weighted number of diluted shares outstanding during the year20213,360,635,089 |
| Earnings per share (in euros): | Earnings per share (in euros): 2022
|
Earnings per share (in euros):2021
|
| BASIC EARNING PER SHARE | BASIC EARNING PER SHARE 2022 (5.03) |
BASIC EARNING PER SHARE20211.46 |
| DILUTED EARNINGS PER SHARE | DILUTED EARNINGS PER SHARE 2022 (5.03) |
DILUTED EARNINGS PER SHARE20211.36 |
| BASIC EARNINGS PER SHARE OF CONTINUING OPERATIONS | BASIC EARNINGS PER SHARE OF CONTINUING OPERATIONS 2022 (5.03) |
BASIC EARNINGS PER SHARE OF CONTINUING OPERATIONS20211.46 |
| DILUTED EARNINGS PER SHARE OF CONTINUING OPERATIONS | DILUTED EARNINGS PER SHARE OF CONTINUING OPERATIONS 2022 (5.03) |
DILUTED EARNINGS PER SHARE OF CONTINUING OPERATIONS20211.36 |
| BASIC EARNINGS PER SHARE OF DISCONTINUED OPERATIONS | BASIC EARNINGS PER SHARE OF DISCONTINUED OPERATIONS 2022 - |
BASIC EARNINGS PER SHARE OF DISCONTINUED OPERATIONS2021- |
| DILUTED EARNINGS PER SHARE OF DISCONTINUED OPERATIONS | DILUTED EARNINGS PER SHARE OF DISCONTINUED OPERATIONS 2022 - |
DILUTED EARNINGS PER SHARE OF DISCONTINUED OPERATIONS2021- |
The diluted earnings per share incorporates the impact of conversion of OCEANE bonds (see note 18.3.2.2) and adjustment of the conversion/exchange ratio following capital increases undertaken during the year.
As the EDF net income was negative in 2022, conversion of the OCEANE bonds had an accretive effect and consequently the diluted earnings per share is identical to the basic earnings per share.
The Group recognises provisions when it has a present obligation (legal or constructive) arising from a past event, an outflow of resources will probably be required to settle the obligation, and the obligation amount can be estimated reliably.
If it is anticipated that all or part of the expenses covered by a provision will be reimbursed, the reimbursement is recognised under receivables if and only if the Group is virtually certain of receiving it.
Provisions are determined based on the Group’s expectation of the cost necessary to settle the obligation. Estimates are based on management data from the information system, assumptions adopted by the Group, and if necessary, experience of similar transactions or operations, based on independent expert reports, or contractor quotes. The various assumptions are reviewed for each closing of the accounts.
In the case of decommissioning provisions for power plants in operation, adjustments are recorded via fixed assets. The discount effect generated at each closing to reflect the passage of time is recorded under “Discount effect” in financial expenses. Changes in provisions resulting from a change in discount rates, a change in the disbursement schedule or a change in contractor quote are recorded:
Provisions related to nuclear generation mainly cover the following:
