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SONY CORPORATION ANNUAL REPORT 2000
73
5. Reconciliation of the differences between basic and diluted net income per share (“EPS”)
Basic and diluted EPS as well as the number of shares
in the following table are restated for all periods to
reflect the two-for-one stock split that has become
effective on May 19, 2000. Reconciliation of the
differences between basic and diluted EPS for the years
ended March 31, 1998, 1999 and 2000 is as follows:
Yen in millions Thousands of shares Yen
Weighted-average
Net income shares EPS
For the year ended March 31, 1998:
Basic EPS
Net income available to common stockholders . . . . . . ¥ 222,068 796,363 ¥ 278.9
Effect of Dilutive Securities
Warrants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 101
Convertible bonds . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,271 131,779
Diluted EPS
Net income for computation . . . . . . . . . . . . . . . . . . . . ¥ 224,339 928,243 ¥ 241.7
For the year ended March 31, 1999:
Basic EPS
Net income available to common stockholders . . . . . . ¥ 179,004 819,506 ¥ 218.4
Effect of Dilutive Securities
Warrants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 60
Convertible bonds . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,361 108,095
Diluted EPS
Net income for computation . . . . . . . . . . . . . . . . . . . . ¥ 181,365 927,661 ¥ 195.5
Yen in millions Thousands of shares Yen Dollars
Weighted-average
Net income shares EPS
For the year ended March 31 , 2000:
Basic EPS
Net income available to common stockholders . . . . . . ¥1 21 ,835 842,679 ¥144.6 $1 .36
Effect of Dilutive Securities
Warrants . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 500
Convertible bonds . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,537 1 01,1 74
Diluted EPS
Net income for computation . . . . . . . . . . . . . . . . . . . . ¥124,372 944,353 ¥131 .7 $1.24
6. Accumulated amortization of intangibles and goodwill
7. Proceeds from merger of Loews Theatres exhibition business
Accumulated amortization of intangibles and goodwill
amounted to ¥211,248 million and ¥202,750 million
($1,913 million) at March 31, 1999 and 2000, respectively.
During the quarter ended June 30, 1998, Sony merged
its Loews Theatres exhibition business with Cineplex
Odeon Corporation to create Loews Cineplex Entertain-
ment Corporation (“Loews”). Subsequent to the merger,
Loews completed a public offering of its common stock.
After these transactions, Sony’s ownership in Loews is
39.5%. As a result of these transactions, Sony no longer
consolidates the results of Loews; Loews’ results are
now reported on an equity basis. In connection with the
Loews merger and the subsequent public offering, Sony
received proceeds of ¥53,007 million and recorded a
gain of ¥5,181 million, which is reflected in gain on sale
of securities investments and other on the consolidated
statement of income for the year ended March 31, 1999.