Calculation of adjusted earnings per share
|
|
|
3rd Quarter |
January – September |
||
|---|---|---|---|---|---|---|
|
|
|
2015 |
2014 |
2015 |
2014 |
Income before taxes and minority interests |
|
million € |
1,714 |
1,573 |
5,432 |
5,408 |
Special items |
|
million € |
(286) |
30 |
(219) |
42 |
Amortization of intangible assets |
|
million € |
149 |
146 |
489 |
441 |
Amortization of intangible assets contained in special items |
|
million € |
– |
– |
(37) |
– |
Adjusted income before taxes and minority interests |
|
million € |
1,577 |
1,749 |
5,665 |
5,891 |
Adjusted income taxes |
|
million € |
(537) |
(488) |
(1,715) |
(1,590) |
Adjusted income before minority interests |
|
million € |
1,040 |
1,261 |
3,950 |
4,301 |
Adjusted minority interests |
|
million € |
(56) |
(126) |
(285) |
(260) |
Adjusted net income |
|
million € |
984 |
1,135 |
3,665 |
4,041 |
|
|
|
|
|
|
|
Weighted average number of shares outstanding |
|
in thousands |
918,479 |
918,479 |
918,479 |
918,479 |
Adjusted earnings per share |
|
€ |
1.07 |
1.24 |
3.99 |
4.40 |
The earnings per share figure adjusted for special items and amortization of intangible assets has become internationally established as a key figure that can be compared over the course of time and is particularly suitable for forecasts of future earnings.
Special items arise from the integration of acquired businesses, restructuring measures, impairments, gains or losses resulting from divestitures and sales of shareholdings, and other expenses and income that do not arise in conjunction with ordinary business activities.
Intangible assets primarily result from the purchase price allocation following acquisitions. The amortization of intangible assets is therefore of a temporary nature.
The calculation of earnings per share in accordance with the International Financial Reporting Standards (IFRS) is presented in the Notes. Adjusted income before taxes and minority interests, adjusted net income and adjusted earnings per share are key ratios that are not defined under IFRS. They should not be viewed in isolation, but rather treated as supplementary information.