13. Earnings per share ("EPS")

13.1 Per share amounts

Continuing
operations
pence
Discontinued
operations
pence
2012
Total
pence
Continuing
operations
pence
Discontinued
operations
pence
2011
Total
pence
Earnings/(loss) per share— basic(6.6)220.8214.236.017.253.2
 — diluted(6.5)218.8212.335.416.952.3
 — headline27.560.539.470.4
 — diluted headline27.260.038.769.1

13.2 Earnings for EPS

Basic and diluted EPS from continuing operations are based upon the loss attributable to owners of the parent, as reported in the Group income statement, of £18.3m (2011: £99.3m profit), being the loss for the year of £13.2m (2011: £105.2m profit) less non-controlling interests of £5.1m (2011: £5.9m); basic and diluted EPS from total operations are based on the profit attributable to owners of the parent of £594.2m (2011: £146.8m); headline and diluted headline EPS are based upon headline profit from continuing operations attributable to owners of the parent of £76.2m (2011: £108.7m). The table below reconciles these different profit measures.

Continuing
operations £m
Discontinued
operations
£m
2012
Total
£m
Continuing operations
£m
Discontinued operations
£m
2011
Total
£m
Profit/(loss) attributable to owners of the parent(18.3)612.5594.299.347.5146.8
Adjustments for exceptional items:
Amortisation of intangible assets17.517.517.817.8
Restructuring charges57.03.860.87.01.98.9
Demerger costs15.710.025.7
Gains relating to employee benefits plans(13.2)(2.0)(15.2)
Exceptional finance costs1.91.9
Loss on disposal of continuing operations2.32.31.61.6
(Profit)/loss on disposal of discontinued operations(541.3)(541.3)34.934.9
Tax relating to exceptional items2.06.78.7(5.7)3.2(2.5)
Headline profit attributable to owners of the parent76.291.7167.9108.785.5194.2

13.3 Weighted average number of shares

2012
m
2011
m
For calculating basic and headline EPS277.4275.7
Adjustment for dilutive potential ordinary shares2.55.2
For calculating diluted and diluted headline EPS279.9280.9

As a result of the reorganisation of the Cookson legal structure, Vesuvius plc became the new parent of Cookson Group plc. Therefore the weighted average number of ordinary shares outstanding has been calculated using the number of ordinary shares issued by Vesuvius plc at the date of reorganisation, 17 December 2012, and adjusted for movements in the number of ordinary shares of Cookson Group plc from the beginning of each period prior to the reorganisation and movements in the number of ordinary shares outstanding from the reorganisation date to 31 December 2012 using the actual number of ordinary shares in Vesuvius plc outstanding during that period.

For the purposes of calculating diluted and diluted headline EPS, the weighted average number of ordinary shares is adjusted to include the weighted average number of ordinary shares that would be issued on the conversion of all dilutive potential ordinary shares relating to the Company's share-based payment plans. Potential ordinary shares are only treated as dilutive when their conversion to ordinary shares would decrease EPS, or increase loss per share, from continuing operations.

In addition to the ordinary shares shown as being dilutive in the table above, the Company had no (2011: 0.2m) outstanding options and share awards in relation to its share-based payment plans that could dilute EPS in the future, but which are not included in the calculation of diluted and diluted headline EPS above because they were anti-dilutive in the years presented.