SAINT_GOBAIN_REGISTRATION_DOCUMENT_2017
9
Financial and accounting information 2017 Consolidated financial statements
Saint-Gobain shares held or controlled by Compagnie de Saint-Gobain and Saint-Gobain Corporation are shown as a deduction from equity under “Treasury stock” at acquisition cost. The liquidity agreement signed with Exane BNP Paribas on November 16, 2007 and implemented on December 3, 2007 for a period up to December 31, 2007 has been automatically renewed since that date. At December 31, 2017, 2,771,372 shares were held in treasury stock (December 31, 2016: 1,891,955 shares). In 2017, the Group acquired 9,595,036 shares (12,246,156 shares in 2016) directly on the market and sold 1,715,619 shares (2016: 1,706,031 shares). Lastly, 7,000,000 shares were canceled in 2017 and 10,984,088 shares in 2016. For the purposes of a compensation plan set up in January 2008 for certain employees in the United States, Compagnie de Saint-Gobain shares are held by the trustee,
Wachovia Bank, National Association. In the consolidated financial statements, these shares are treated as being controlled by Saint-Gobain Corporation. Dividends 9.1.5. The Annual shareholders' Meeting of June 8, 2017 approved the recommended dividend payout for 2016, representing €1.26 per share. Earnings per share 9.2. Basic earnings per share are calculated by dividing net income by the weighted average number of shares of the Group outstanding during the period. Diluted earnings per share are calculated by adjusting earnings per share and the average number of shares outstanding for the effects of all potential dilutive common shares, such as stock options and performance shares.
Basic and diluted earnings per share are as follows:
2017
2016
Basic
Diluted
Basic
Diluted
Income (inɸ€ millions) GROUP SHARE OF NET INCOME
1,566
1,566
1,311
1,311
Number of shares Weighted average number of shares in issue
553,383,836
554,624,285
Weighted average number of shares assuming full dilution
556,655,598
557,163,247
Earnings per share (in €) EARNINGS PER SHARE, GROUP SHARE
2.83
2.81
2.36
2.35
The weighted average number of shares assuming full dilution options and performance share grants corresponding to a is calculated based on the weighted average number of weighted average of 975,772 and 2,295,990 shares, shares outstanding, assuming conversion of all dilutive respectively, at Decembe 31, 2017. instruments. The Group’s dilutive instruments include stock TAXES NOTE 10
Income taxes 10.1. Current income tax is the estimated amount of tax payable in respect of income for a given period, calculated by reference to the tax rates that have been enacted or substantively enacted at the end of the reporting period, plus any adjustments to current taxes recorded in previous financial periods.
Income tax expense breaks down as follows: (inɸ€ millions) 2017
2016 (325)
CURRENT TAXES
(445)
France
(18)
(45)
Outside France
(427)
(280)
DEFERRED TAXES
7
(91)
France
64
86
Outside France
(57)
(177) (416)
TOTAL INCOME TAX EXPENSE
(438)
264 SAINT-GOBAIN - REGISTRATION DOCUMENT 2017
Made with FlippingBook flipbook maker