BT Group
 
 
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13. Earnings (loss) per share
The basic earnings (loss) per share are calculated by dividing the profit for the financial year attributable to shareholders by the weighted average number of shares in issue after deducting the company’s shares held by employee share ownership trusts.

In calculating the diluted earnings (loss) per share, share options outstanding and other potential ordinary shares have been taken into account.

The weighted average number of shares in the years were:
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  2001   2000   1999  
  millions   millions   millions  
  of shares   of shares   of shares  
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Basic 6,525   6,488   6,442  
Dilutive ordinary shares from share options outstanding and shares held in trust 96   154   150  
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Total diluted 6,621   6,642   6,592  
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Options over 39 million shares were excluded from the calculation of the total diluted number of shares in the year ended 31 March 2001 because to do so would have been antidilutive.

The items in the calculation of earnings (loss) per share before goodwill amortisation and exceptional items in the years were:
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  2001   2000   1999              
  pence   pence   pence   2001   2000   1999  
  per share   per share   per share   m   m   m  
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Profit on sale of group undertakings 9.4   1.9     619   126    
Rates refunds relating to prior years 3.0       193      
Goodwill impairment (49.0 )     (3,200 )    
Write off of subscriber acquisition costs (2.1 )     (139 )    
Viag Interkom write off of IT Systems (0.7 )     (43 )    
Interest receivable on rates refunds, relating to prior years 0.4       25      
Costs relating to the closure of the BT Cellnet analogue network   (0.7 )     (47 )  
Profit on sale of MCI shares     17.6       1,133  
Provision against another fixed asset investment     (0.4 )     (26 )
Costs relating to the disengagement from MCI   (1.0 ) (1.1 )   (64 ) (69 )
Goodwill amortisation (8.6 ) (2.6 ) (0.3 ) (558 ) (173 ) (17 )
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Total credit (charge) before tax and minority interest (47.6 ) (2.4 ) 15.8   (3,103 ) (158 ) 1,021  
Tax charge attributable (0.3 ) (0.1 ) (4.5 ) (22 ) (5 ) (291 )
Minority Interest (0.3 )     (21 )    
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Net credit (charge) (48.2 ) (2.5 ) 11.3   (3,146 ) (163 ) 730  
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Basic earnings (loss) per share/profit for the financial year after goodwill amortisation and exceptional items (27.7 ) 31.7   46.3   (1,810 ) 2,055   2,983  
Goodwill amortisation and exceptional charge (credit) 48.2   2.5   (11.3 ) 3,146   163   (730 )
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Basic earnings per share/profit for the financial year before goodwill amortisation and exceptional items 20.5   34.2   35.0   1,336   2,218   2,253  
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