64 | FINANCIAL STATEMENTS | Notes to the Consolidated Financial Statements


10. Earnings per share continued The following tables disclose the (loss)/earnings and share capital data used in the (loss)/earnings per share calculations: 2011


Reconciliation of (loss)/earnings


Loss attributable to ordinary equity holders of the parent for basic loss per share Amortisation of intangibles(1)


F&C REIT put option fair value gain F&C Partners litigation expense TRC Commutation expenses


Exceptional employment expense/(income)(2) F&C REIT variable NCI SBP income


TRC Management Retention and Incentive Plans TRC integration expenses


Operations outsourcing expenses


TRC acquisition consideration adjustments Deferred Tax – Corporation Tax rate change* Corporate advisory fees


Underlying earnings attributable to ordinary equity holders of the parent


Underlying earnings attributable to ordinary equity holders of the parent excluding foreign exchange losses


(2)


Gross £m


(4.0) 42.6 (8.7) 1.9 5.7 8.7


(4.8) 4.6 0.2 2.7


(7.6) –


Tax £m


3.5


(13.7) –


(1.1) –


(2.3) –


(0.5) (0.1) (0.7) –


2.0


Net £m


(0.5) 28.9 (8.7) 0.8 5.7 6.4


(4.8) 4.1 0.1


2.0


Gross £m


(22.1) 47.3 (6.4) 6.0 6.2


(2.6) (0.3) 1.8 1.1


––– 9.9


Foreign exchange transfer from reserves on liquidation of subsidiary ––– (1.3) Prior year unrealised losses on forward currency contracts, now realised ––– (1.3)


41.3 41.3 (12.9) (12.9)


Excludes £2.0m (2010: £2.3m) of amortisation of intangibles (net of tax) which is attributable to NCI. Excludes £nil (2010: £0.1m) of costs (net of tax) which are attributable to NCI.


28.4 28.4


* As restated for the effect of the Deferred Tax – Corporation Tax rate change being excluded from underlying EPS. (1)


Share capital Weighted average number of Ordinary Shares(3)


Weighted average dilutive potential Ordinary Shares exercisable: The Long Term Remuneration Plan awards TRC Commutation arrangements


TRC Management Retention Plan awards


The Executive Director Remuneration Plan awards Deferred Share awards


Purchased Equity Plan awards


Dilutive potential weighted average number of Ordinary Shares (3)


Excluding own shares held by Nominees/Employee Benefit Trusts.


In the period between the reporting date and the approval of the Consolidated Financial Statements, 1,112,958 share awards (2010: 9,474,354) vested which were satisfied by the utilisation of own shares held by Employee Benefit Trusts.


2011 No.


2010 No.


515,372,721 501,469,251


13,175,821 12,554,160 2,157,665 975,054 606,632


30,316,564 16,130,914 – –


2,543,218 –


694,880 575,158,617 520,838,263 38.3 Foreign exchange losses included within underlying earnings ––– 2.0 40.3


2010 (as restated*) Tax


£m 5.5


(14.8) –


(1.6) –


0.7 –


(0.3) (0.2)


0.8 – –


0.4


(9.5) (0.6)


(10.1)


Net £m


(16.6) 32.5 (6.4) 4.4 6.2


(1.9) (0.3) 1.5 0.9


2.0 ––– (7.6) ––– –


0.8 9.9


(1.3) (0.9)


28.8 1.4


30.2


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