PERNOD RICARD - 2018-2019 Universal registration document
6.
CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements
Tax loss carryforwards (recognised and unrecognised) represent potential tax savings of €1,202 million and €1,165 million at 30 June 2019 and 30 June 2018 respectively. The potential tax savings at 30 June 2019 and 30 June 2018 relate to tax loss carryforwards with the following expiry dates: FY18
Tax effect of loss carryforwards € million Losses recognised Losses not recognised
Year 2018 2019 2020 2021
1
1
0
0 0 0
1
2
2022 and after No expiry date
682 184
190 103
TOTAL
870
296
FY19
Tax effect of loss carryforwards € million Losses recognised Losses not recognised
Year 2019 2020 2021 2022
0 0
1 1 1 1
1
2
2023 and after No expiry date
737 167
196
93
TOTAL
908
294
Earnings per share Note 3.4 Basic and diluted earnings per share are calculated on the basis of the weighted average number of outstanding shares, less the weighted average number of dilutive instruments. The calculation of diluted earnings per share takes into account the potential impact of the exercise of all dilutive instruments (such as stock options, convertible bonds, etc.) on the theoretical number of
shares. When funds are obtained at the date of exercise of the dilutive instruments, the “treasury stock” method is used to determine the theoretical number of shares to be taken into account. When funds are obtained at the issue date of the dilutive instruments, net profit is adjusted for the finance cost, net of tax,
relating to these instruments.
Group net profit and net earnings per share fromcontinuing operations
30.06.2019
30.06.2018
Numerator (€ million) Group net profit
1,577
1,455
Denominator (in number of shares) Average number of outstanding shares
264,113,889
264,173,497
Dilutive effect of performance-based share allocations Dilutive effect of stock options and subscription options Average number of outstanding shares – diluted
1,062,410
1,043,157
366,703
202,895
265,543,003
265,419,549
Earnings per share (€) Group earnings per share – basic Group earnings per share – diluted
5.97 5.94
5.51
5.48
172
2018-2019
PERNOD RICARD UNIVERSAL REGISTRATIONDOCUMENT
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