The equity attributable to equity holders of the Parent Company consists of the following items:
The share capital of AB Electrolux consists of 8,192,539 Class A shares and 300,727,769 Class B shares with a quota value of SEK 5 per share. All shares are fully paid. An A-share entitles the holder to one vote and a B-share to one-tenth of a vote. All shares entitle the holder to the same proportion of assets and earnings, and carry equal rights in terms of dividends.
| Quota value | |
|---|---|
| Share capital, December 31, 2013 | |
| 8,192,539 Class A shares, with a quota value of SEK 5 | 41 |
| 300,727,769 Class B shares, with a quota value of SEK 5 | 1,504 |
| Total | 1,545 |
| Share capital, December 31, 2014 | |
| 8,192,539 Class A shares, with a quota value of SEK 5 | 41 |
| 300,727,769 Class B shares, with a quota value of SEK 5 | 1,504 |
| Total | 1,545 |
| Owned by Electrolux |
Owned by other shareholders |
Total | |
|---|---|---|---|
| Shares, December 31, 2013 | |||
| Class A shares | — | 8,192,539 | 8,192,539 |
| Class B shares | 22,708,321 | 278,019,448 | 300,727,769 |
| Conversion of Class A shares into Class B shares | |||
| Class A shares | — | — | — |
| Class B shares | — | — | — |
| Sold shares | |||
| Class A shares | — | — | — |
| Class B shares | –108,437 | 108.437 | — |
| Shares, December 31, 2014 | |||
| Class A shares | — | 8,192,539 | 8,192,539 |
| Class B shares | 22,599,884 | 278,127,885 | 300,727,769 |
Other paid-in capital relates to payments made by owners and includes share premiums paid.
Other reserves include the following items: Available-for-sale instruments which refer to the fair-value changes in Electrolux holdings in Videocon Industries Ltd., India; cash-flow hedges which refer to changes in valuation of currency contracts used for hedging future foreign currency transactions; and exchange-rate differences on translation of foreign operations which refer to changes in exchange rates when net investments in foreign subsidiaries are translated to SEK. The amount of exchange-rate changes includes the value of hedging contracts for net investments. Finally, other reserves include tax relating to the mentioned items.
Retained earnings, including income for the period, include the income of the Parent Company and its share of income in subsidiaries and associated companies. Retained earnings also include remeasurement of provision for post-employment benefits, reversal of the cost for share-based payments recognized in income, income from sales of own shares and the amount recognized for the common dividend.
| 2013 | 2014 | |
|---|---|---|
| Income for the period | 672 | 2,242 |
| Earnings per share | ||
| Basic, SEK | 2.35 | 7.83 |
| Diluted, SEK | 2.34 | 7.78 |
| Average number of shares, million | ||
| Basic | 286.2 | 286.3 |
| Diluted | 287.3 | 288.2 |
Basic earnings per share is calculated by dividing the income for the period with the average number of shares. The average number of shares is the weighted average number of shares outstanding during the year, after repurchase of own shares. The dilution in the Group is a consequence of the Electrolux long-term incentive programs. Diluted earnings per share is calculated by adjusting the weighted average number of ordinary shares outstanding with the estimated number of shares from the share programs. Share programs are included in the dilutive potential ordinary shares as from the start of each program.
The average number of shares during the year has been 286,295,400 (286,200,115) and the average number of diluted shares has been 288,211,304 (287,317,610).