In the CONSOLIDATED STATEMENTS OF INCOME above,
- Net earnings applicable to common shareholders: 314
- Basic shares (in thousands): 163,551
- Net earnings per common share: 1.90
But this does not result in the correct EPS.
314/163.551 = 1.91989
According the table
13. NET EARNINGS PER COMMON SHARE, the following calculation of EPS is about right.
- Total earnings applicable to common shares: 312
- Weighted average common shares outstanding (in thousands): 163,551
312/163.551 = 1.907662
I don't quite understand why the Total earnings and the net earnings are not the same. Could anybody help me understand the discrepancy?