Earnings per share

12 Months Ended

Dec. 31, 2024

Note 31: Earnings per share


	2024 £m	2023 £m	2022 £m
Profit attributable to ordinary shareholders – basic and diluted	3,923	4,933	3,389


	2024 million	2023 million	2022 million
Weighted average number of ordinary shares in issue – basic	62,413	64,953	68,847
Adjustment for share options and awards	661	807	835
Weighted average number of ordinary shares in issue – diluted	63,074	65,760	69,682

Basic earnings per share	6.3p	7.6p	4.9p
Diluted earnings per share	6.2p	7.5p	4.9p

Basic earnings per share are calculated by dividing the net profit attributable to equity shareholders by the weighted average number of

ordinary shares in issue during the year, which has been calculated after deducting 71 million (2023: 180 million; 2022: 198 million) ordinary

shares representing the Group’s holdings of own shares in respect of employee share schemes.

For the calculation of diluted earnings per share the weighted average number of ordinary shares in issue is adjusted to assume conversion

of all dilutive potential ordinary shares that arise in respect of share options and awards granted to employees. The number of shares that

could have been acquired at the annual average price of the Company’s shares based on the monetary value of the subscription rights

attached to outstanding share options and awards is determined. This is deducted from the number of shares issuable under such options

and awards to leave a residual bonus amount of shares which are added to the weighted average number of ordinary shares in issue, but no

adjustment is made to the profit attributable to equity shareholders.

There were 16 million anti-dilutive share options and awards excluded from the calculation of diluted earnings per share (2023: 41 million;

2022: 63 million).