text: **Consolidated**
  
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              [html]<thead><tr><tdrowspan="2">21. Earnings per Share</td><tdcolspan="2">Co2004Smillion</td></tr><tr><td>2003 $ million</td><td>Earnings used in the calculation of basic earnings per share reconciles to the net profit after tax in the statement of financial performance as follows : Net profit after income tax</td></tr></thead><tbody><tr><tdcolspan="3">379.9</td></tr><tr><td>327.0</td><td>Less special, dividend on redeemable convertible preference shares</td><td>( 14.3 )</td></tr><tr><td>–</td><td>Earnings used in the calculation of diluted earnings per share</td><td>365.6</td></tr><tr><td>327.0</td><td>Less dividends paid on reset convertible preference shares</td><td>( 23.0 )</td></tr><tr><td>( 23.0 )</td><td>Earnings used in the calculation of basic earnings per share</td><td>342.6</td></tr><tr><td>304.0</td><td>2004Number of shares</td><td>The weighted average number of shares used for the purposes of calculating diluted earnings per share reconciles to the number used to calculate basic earnings per share as follows :</td></tr><tr><td></td><td>Basic earnings per share</td><td>584.924.130</td></tr><tr><tdcolspan="3">583.432.623</td></tr><tr><td>Partly paid shares</td><td>100.722</td><td>112.876</td></tr><tr><td>Executive share options</td><td>755.897</td><td>164.841</td></tr><tr><td>Reset convertible preference shares</td><td>39.367.128</td><td>50.946.143</td></tr><tr><td>Diluted earnings per share</td><td>625.147.877</td><td>634.656.483</td></tr><tr><td>Partly paid shares outstanding issued under the Sartizo. Executive Share Plan ; options outstanding issued under the Santos E</td><td>Plan ; and reset convertible preference shares have been classified as potential ordinary shares and included in the calculation share. The number of shares included in the calculation are those assumed to be issued for no consideratior</td></tr><tr><tdcolspan="3"</tr></tbody>
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