Earning per share

  31.12.2011 31.12.2010
Result of the period (€ million) 856.1 1,701.9
- from continuing operations 856.2 1,693.9
- from discontinued operations -0.1 8.0
Weighted average number of ordinary shares outstanding 1,540,875,154 1,540,850,443
Basic earnings per share (€) 0.56 1.10
- from continuing operations 0.56 1.10
- from discontinued operations 0.00 0.01

Basic earnings per share are calculated by dividing the result of the period by the weighted average number of ordinary shares outstanding during the period. The weighted average number of ordinary shares outstanding is adjusted for the Parent Company’s average number of shares owned by itself or by other Group companies during the period.

  31.12.2011 31.12.2010
Result of the period (€ million) 856.1 1,701.9
- from continuing operations 856.2 1,693.9
- from discontinued operations -0.1 8.0
Weighted average number of ordinary shares outstanding 1,540,875,154 1,540,850,443
Adjustments for stock option 0.0 0.0
Weighted av erage number of ordinary shares outstanding for diluted earnings per share 1,540,875,154 1,540,850,443
Basic earnings per share (€) 0.56 1.10
- from continuing operations 0.56 1.10
- from discontinued operations 0.00 0.01

Diluted earnings per share reflect the eventual dilution effect of potential ordinary shares.