Air France–KLM (AF), a Franco-Dutch company, prepares its financial statements according to International Financial Reporting Standards. AF’s financial statements and disclosure notes for the year ended December 31, 2019, are available in Connect. This material is also available under the Finance link at the company’s website (www.airfranceklm-finance.com). Note 14 in those financial statements provides information on the calculation of earnings per share:

Required:
1. Based on the information provided, what was diluted earnings per share for 2019?
2. Using the information provided by the note, infer the reason for the €6 million “Consequence of potential ordinary shares on net income.”

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14. EARNINGS PER SHARE (in part) Results used for the calculation of diluted earnings per share: In € millions As of December 31 Basic net income for the period-Equity holders of Air France-KLM Basic net income for the period for continuing operations Consequence of potential ordinary shares on net income (after tax) Net income for the period- (taken for calculation of diluted earnings per share) Reconciliation of the number of shares used to calculate earnings per share As of December 31 Weighted average number of: Ordinary shares issued Treasury stock held regarding stock option plan Other treasury stock Number of shares used to calculate basic earnings per share OCEANE conversion 2019 273 273 6 Number of ordinary and potential ordinary shares used to calculate diluted earnings per share 279 2019 428,634,035 (1,116,420) (85,151) 427,432,464 27,901,785 455,334,249 2018 395 395 395 2018 428,634,035 (1,116,420) (85,151) 427,432,464 427,432,464