Vodafone 2002 Annual Report Download - page 132

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Vodafone Group Plc Annual Report & Accounts and Form 20-F Notes to the Consolidated Financial Statements130
Notes to the Consolidated Financial Statements continued
37. US GAAP information continued
(j) Proposed dividends
Under UK GAAP, final dividends are included in the financial statements when recommended by the Board to the shareholders in respect of the results for a
financial year. Under US GAAP, dividends are included in the financial statements when declared by the Board.
(k) Equity accounting
UK GAAP requires the investor’s share of operating profit or loss, exceptional items and interest income or expense of joint ventures and associated
undertakings to be shown separately from those of the Group on the face of the profit and loss account. The charges for interest and taxation for joint
ventures and associated undertakings may be aggregated within the Group interest and taxation amounts shown on the face of the profit and loss account,
but must be disclosed in the notes to the accounts. The Group’s share of the turnover of joint ventures and associated undertakings is also permitted to be
disclosed on the face of the consolidated profit and loss account. In addition, the Group’s share of gross assets and gross liabilities of joint ventures are
shown on the face of the consolidated balance sheet. Under US GAAP, the after-tax profits or losses (i.e. operating results after exceptional items, interest
and taxation) are included in the income statement as a single line item and the investments in joint ventures and associated undertakings are included in
the consolidated balance sheet as a single line item. US GAAP does not permit the Group’s share of turnover of joint ventures and associated undertakings to
be disclosed on the face of the consolidated income statement, nor does it permit the Group’s share of gross assets and gross liabilities to be shown on the
face of the consolidated balance sheet.
(l) Earnings per ordinary share
Earnings per ordinary share information is calculated based on:
2002 2002 2001 2000
$m £m £m £m
(in millions, except per ordinary share amounts)
Net (loss)/income in accordance with US GAAP
before change in accounting principle (23,805) (16,705) (7,071) 553
after change in accounting principle (23,780) (16,688) (7,071) 553
Weighted average number of ordinary shares in issue (millions) 67,961 67,961 61,439 27,100
Basic (loss)/earnings per ordinary share
before change in accounting principle (35.03)¢ (24.58)p (11.51)p 2.04p
after change in accounting principle (34.99)¢ (24.56)p (11.51)p 2.04p
Diluted weighted average number of ordinary shares (millions) 67,715 67,715 61,398 27,360
Diluted (loss)/earnings per ordinary share
before change in accounting principle (35.15)¢ (24.67)p (11.52)p 2.02p
after change in accounting principle (35.12)¢ (24.64)p (11.52)p 2.02p
The presentation of adjusted basic earnings per share is not permitted under US GAAP.