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32. Earnings per share

Earnings (Losses) per share (hereinafter “earnings per share” or “EPS”) are calculated as follows:

  • for basic EPS, by dividing net profit attributable to holders of ordinary shares by the average number of ordinary shares for the period less treasury shares;
  • for diluted EPS, by dividing net profit by the average number of ordinary shares and the average number of ordinary shares potentially deriving from the exercise of all the option rights for stock-option plans less treasury shares.

 20162015
Average shares outstanding during the reporting period (in thousands)574,543578,034
Earnings for the period (excluding non-controlling interests) (€ millions)505487
Earnings from continuing operations (excluding non-controlling interests) (€ millions)505265
Earnings from discontinued operations (excluding non-controlling interests) (€ millions)-222
   
Basic and Diluted EPS (€)0.8790.843
Basic and Diluted EPS from continuing operations (€)0.8790.458
Basic and Diluted EPS from discontinued operations (€)n.a0.385