8. per share amounts
Basic income per Common Share and Non-Voting Share is calculated by dividing Common Share and Non-Voting Share income by the total weighted average Common Shares and Non-Voting Shares outstanding during the period. Diluted income per Common Share and Non-Voting Share is calculated to give effect to share options and warrants and shares issuable on conversion of debentures.
The following tables present the reconciliations of the numerators and denominators of the basic and diluted per share computations.
For the year ended December 31, 2005, certain outstanding share options, in the amount of 1.1 million (2004 – 7.9 million) were not included in the computation of diluted income per Common Share and Non-Voting Share because the share options’ exercise prices were greater than the average market price of the Common Shares and Non-Voting Shares during the reported periods. Convertible debentures, which were convertible into 3.8 million shares, were not included in the computation of diluted income per Common Share and Non-Voting Share for the year ended December 31, 2004, as they were antidilutive. The redemption of convertible debentures is further discussed in Note 14(d).
