Earnings per share

12 Months Ended

Dec. 31, 2021

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Earnings per share

8. Earnings per share

Basic

Basic earnings per share is calculated by dividing the profit or loss attributable to equity shareholders of the company (earnings) by the weighted average number of ordinary shares in issue during the year, excluding ordinary shares purchased by the company and held as treasury shares.

Diluted

Diluted earnings per share is calculated by adjusting the weighted average number of ordinary shares to take account of all dilutive potential ordinary shares and adjusting the profit attributable, if applicable, to account for any tax consequences that might arise from conversion of those shares. A dilution is not calculated for a loss.

All figures in £ millions	2021			2020		2019
Earnings for the year		160			310		266
Non-controlling interest		(1	)		—		(2	)
Earnings attributable to equity shareholders		159			310		264
Weighted average number of shares (millions)		754.1			755.4		777.0
Effect of dilutive shares options (millions)		5.0			—		0.5
Weighted average number of shares (millions) for diluted earnings		759.1			755.4		777.5
Earnings per share (in pence per share)
Basic		21.1p			41.0p		34.0p
Diluted		20.9p			41.0p		34.0p