NOTE 36 — EARNINGS PER SHARE
(a) Basic
Basic earnings per common share is calculated by dividing the earnings attributable to Company’s Common shareholders by the weighted average amount of common shares outstanding during the year, which excludes common shares bought by the Company and carried as treasury shares. Preferred shares have priority in the distribution of minimum dividends. However, its stake in rights over profit, once the distribution of minimum dividends has been realized, is equivalent to common shares. Therefore, the earnings per preferred share are calculated by the method applied to the common shares.
|
Numerator |
|
Ordinary |
|
Preferred A |
|
Preferred B |
|
Total |
|
|
Losses attributable to each class of shares |
|
(1,417,490 |
) |
(192 |
) |
(346,124 |
) |
(1,763,805 |
) |
|
Denominator |
|
Ordinary |
|
Preferred A |
|
Preferred B |
|
Total |
|
|
Weighted average number of shares |
|
1,087,050 |
|
147 |
|
265,437 |
|
1,352,634 |
|
|
% of shares in relation to total |
|
80.37 |
% |
0.01 |
% |
19.62 |
% |
100.00 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
Basic earnings per share (R $) |
|
(1.30 |
) |
(1.30 |
) |
(1.30 |
) |
|
|
12/31/2016
|
Numerator |
|
Ordinary |
|
Preferred A |
|
Preferred B |
|
Total |
|
|
Income attributable to each class of shares |
|
2,880,723 |
|
389 |
|
703,417 |
|
3,584,529 |
|
|
Denominator |
|
Ordinary |
|
Preferred A |
|
Preferred B |
|
Total |
|
|
Weighted average number of shares |
|
1,087,050 |
|
147 |
|
265,437 |
|
1,352,634 |
|
|
% of shares with respect to total |
|
80.37 |
% |
0.01 |
% |
19.62 |
% |
100.00 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
Basic profit or loss per share (R$) |
|
2.65 |
|
2.65 |
|
2.65 |
|
|
|
12/31/2015
|
Numerator |
|
Ordinary |
|
Preferred A |
|
Preferred B |
|
Total |
|
|
Loss attributable to each class of shares |
|
(9,165,746 |
) |
(1,239 |
) |
(2,238,100 |
) |
(11,405,085 |
) |
|
Denominator |
|
Ordinary |
|
Preferred A |
|
Preferred B |
|
Total |
|
|
Weighted average number of shares |
|
1,087,050 |
|
147 |
|
265.437 |
|
1,352,634 |
|
|
% of shares with respect to total |
|
80.37 |
% |
0.01 |
% |
19.62 |
% |
100.00 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted profit or loss per share (R$) |
|
(8.43 |
) |
(8.43 |
) |
(8.43 |
) |
|
|
(b) Diluted
To calculate the diluted result per share, the Company shall assume the exercise of options, subscription bonuses, and similar dilutives of the Company. The assumed values arising from these instruments must be considered as having been received from the issuance of common shares at the average market price of the common shares during the period. As of December 31, 2017, the 16,009,941 potential dilutive common shares, referring to the compulsory loan, were included in the calculation of the weighted average number of shares due to antidilutive effect in 2017 and 2015 and due to dilutive effect in 2016, as shown below.
12/31/2016
|
Numerator |
|
Ordinary |
|
Preferred A |
|
Preferred B |
|
Preferred B |
|
Total |
|
|
Income attributable to each class of shares |
|
2,847,920 |
|
385 |
|
40,816 |
|
695,408 |
|
3,584,529 |
|
|
Denominator |
|
Ordinary |
|
Preferred A |
|
Preferred B |
|
Preferred B |
|
Total |
|
|
Weighted average number of shares, in thousands |
|
1,087,050 |
|
147 |
|
15,580 |
|
265,437 |
|
1,368,214 |
|
|
% of shares with respect to total |
|
79.45 |
% |
0.01 |
% |
1.14 |
% |
19.40 |
% |
100.00 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted profit or loss per share (R$) |
|
2.62 |
|
2.62 |
|
2.62 |
|
2.62 |
|
|
|