6 Earnings per Share

Basic earnings per share (EPS) are calculated on the weighted average number of shares outstanding during the reporting period, excluding the average number of shares purchased by the Group and held as treasury shares.

Diluted earnings per share include the dilutive effect of convertible bonds and share options issued. In the diluted EPS calculation, the convertible debt is assumed to have been converted into shares and the profit attributable to shareholders is adjusted for the applicable interest expense minus the related taxes. Share options are dilutive when they would result in the issuance of shares for less than the average market price during the period. Dilutive share options are assumed to have been exercised. The assumed proceeds are regarded as having been received from the issuance of shares at the average market price during the period. The difference between the number of shares issued and the number of shares that would have been issued at the average market price during the period is considered as an issuance of shares for no consideration.

Due to the loss from continuing operations in 2008, diluted earnings per share equal basic earnings per share.

In CHF million (if not noted otherwise)  200820072008200720082007
  Continuing
operations
Continuing
operations
Discontinued
operations
Discontinued
operations

Group

Group
 
Basic earnings per share 
Net result attributable to equity holders of Swiss Life Holding  –1 1387041 4886413501 345
Weighted average number of shares outstanding  32 169 24833 003 29132 169 24833 003 29132 169 24833 003 291
Basic earnings per share for the net result attributable to equity holders of Swiss Life Holding (in CHF)   -35.37 21.33 46.25 19.43 10.88 40.76
 
Diluted earnings per share 
Net result attributable to equity holders of Swiss Life Holding  –1 1387041 4886413501 345
Elimination of interest expense on convertible bonds  88
Result used to determine diluted earnings per share  –1 1387121 4886413501 353
 
Weighted average number of shares outstanding  32 169 24833 003 29132 169 24833 003 29132 169 24833 003 291
Adjustments (number of shares) 
Assumed conversion of convertible bonds  986 830986 830986 830
Equity compensation plans  176 009176 009176 009
Share options  1 5431 5431 543
Weighted average number of shares outstanding for diluted earnings per share   32 169 248 34 167 673 32 169 248 34 167 673 32 169 248 34 167 673
Diluted earnings per share for the net result attributable to equity holders of Swiss Life Holding (in CHF)   -35.37 20.83 46.25 18.77 10.88 39.60


 
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