Tax loss carryforwards
The Group also had tax loss carryforwards that had not been recognized as deferred tax assets in the consolidated balance sheet because of uncertainty as to their availability for use:
| (in millions of euros) | December 31, 2019 | December 31, 2018 |
|---|---|---|
(in millions of euros) Amount in unrecognized tax loss carryforwards |
December 31, 2019 876 |
December 31, 2018 889 |
(in millions of euros) Of which carried forward indefinitely |
December 31, 2019 311 |
December 31, 2018 340 |
Uncertain tax positions
The Group’s tax positions are based on its interpretations of tax regulations and past experience. Each position is assessed individually without offsetting or aggregation with other positions and gives rise to the recognition of a liability when
an outflow of resources is deemed probable. The assessment of these tax liabilities corresponds to the best estimate of risk at the reporting date and, where appropriate, includes late-payment interest and any penalties. Liabilities relating to tax
risks and litigation are recognized as tax liabilities for the companies for euro 223 million at December 31, 2019, versus euro 200 million at December 31, 2018.
Earnings per share (basic and diluted)
| (in millions of euros, except for share data) |
|
2019 | 2018 |
|---|---|---|---|
(in millions of euros, except for share data) Net income used for the calculation of earnings per share |
|
2019
|
2018
|
(in millions of euros, except for share data) Group net income |
A |
2019 841 |
2018 919 |
(in millions of euros, except for share data) Impact of dilutive instruments: |
|
2019
|
2018
|
(in millions of euros, except for share data) • Savings in financial expenses related to the conversion of debt instruments, net of tax |
|
2019 - |
2018 - |
(in millions of euros, except for share data) Group net income – diluted |
B |
2019 841 |
2018 919 |
(in millions of euros, except for share data) Number of shares used to calculate earnings per share |
|
2019
|
2018
|
(in millions of euros, except for share data) Number of shares at January 1 |
|
2019 235,249,801 |
2018 230,627,725 |
(in millions of euros, except for share data) Shares created over the year |
|
2019 2,457,867 |
2018 2,426,498 |
(in millions of euros, except for share data) Treasury shares to be deducted (average for the year) |
|
2019 (3,414,634) |
2018 (3,822,546) |
(in millions of euros, except for share data) Average number of shares used for the calculation |
C |
2019 234,293,034 |
2018 229,231,677 |
(in millions of euros, except for share data) Impact of dilutive instruments: |
|
2019
|
2018
|
(in millions of euros, except for share data) • Free shares and dilutive stock options(1) |
|
2019 1,951,354 |
2018 4,815,491 |
(in millions of euros, except for share data) • Equity warrants(1) |
|
2019 364,209 |
2018 517,214 |
(in millions of euros, except for share data) Number of diluted shares |
D |
2019 236,608,597 |
2018 234,564,382 |
(in millions of euros, except for share data) (in euros) |
|
2019
|
2018
|
(in millions of euros, except for share data) Earnings per share |
A/C |
2019 3.59 |
2018 4.01 |
(in millions of euros, except for share data) Diluted earnings per share |
B/D |
2019 3.55 |
2018 3.92 |
(1) Only stock options and warrants with a dilutive impact, i.e. whose strike price is lower than the average strike price, are included in the calculation. At December 31, 2019, unexercised stock-options were not taken into account because they were earnings accretive.
