Earnings per share
Earnings per share for the first quarters of 2012 and 2013 were calculated on the basis of the number of shares outstanding as of end of the respective reporting periods. They are derived solely from continuing operations. Since there are currently no equity instruments in issue that could dilute earnings per share, basic and diluted earnings per share are identical. For more information about equity instruments that could dilute earnings per share in the future, readers are referred to the notes to the consolidated financial statements as of December 31, 2012.
Due to the change in the accounting treatment of pension and other post-employment benefit obligations, the income after income taxes and net income reported for the first quarter of the previous year both decreased by €1 million to €192 million. The earnings per share reported for the same period decreased accordingly by €0.01 to €2.31. The change in accounting had a €1 million negative effect on income after income taxes and net income for the first quarter of 2013. The impact on earnings per share was €0.01.