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12. Earnings per share

The following table shows the earnings per share including and excluding the dilutive effect from stock options issued and the Mandatory Exchangeable Bonds (MEB):

  2011 2010
Numerators, € in millions    
Net income attributable to Fresenius SE & Co. KGaA 690 622
less preference on preference shares n/a 0
less effect from dilution due to Fresenius Medical Care shares and MEB 3 6
Income available to all classes of shares 687 616
Denominators in number of shares    
Weighted-average number of ordinary shares outstanding 162,797,197 80,870,695
Weighted-average number of preference shares outstanding 0 80,870,695
Weighted-average number of shares outstanding of all classes 162,797,197 161,741,390
Potentially dilutive ordinary shares 1,522,534 541,580
Potentially dilutive preference shares 0 541,580
Weighted-average number of ordinary shares outstanding assuming dilution 164,319,731 81,412,275
Weighted-average number of preference shares outstanding assuming dilution 0 81,412,275
Weighted-average number of shares outstanding of all classes assuming dilution 164,319,731 162,824,550
     
Basic earnings per ordinary share in € 4.24 3.85
Preference per preference share in € n/a 0.00
Basic earnings per preference share in € n/a 3.85
     
Fully diluted earnings per ordinary share in € 4.18 3.79
Preference per preference share in € n/a 0.00
Fully diluted earnings per preference share in € n/a 3.79

  2011 2010
Numerators, € in millions    
Net income attributable to Fresenius SE & Co. KGaA 690 622
less preference on preference shares n/a 0
less effect from dilution due to Fresenius Medical Care shares and MEB 3 6
Income available to all classes of shares 687 616
Denominators in number of shares    
Weighted-average number of ordinary shares outstanding 162,797,197 80,870,695
Weighted-average number of preference shares outstanding 0 80,870,695
Weighted-average number of shares outstanding of all classes 162,797,197 161,741,390
Potentially dilutive ordinary shares 1,522,534 541,580
Potentially dilutive preference shares 0 541,580
Weighted-average number of ordinary shares outstanding assuming dilution 164,319,731 81,412,275
Weighted-average number of preference shares outstanding assuming dilution 0 81,412,275
Weighted-average number of shares outstanding of all classes assuming dilution 164,319,731 162,824,550
     
Basic earnings per ordinary share in € 4.24 3.85
Preference per preference share in € n/a 0.00
Basic earnings per preference share in € n/a 3.85
     
Fully diluted earnings per ordinary share in € 4.18 3.79
Preference per preference share in € n/a 0.00
Fully diluted earnings per preference share in € n/a 3.79

The owners of preference shares were entitled to a preference of €0.01 per bearer preference share per fiscal year.

Due to the conversion of the preference shares into ordinary shares in combination with the change of legal form, the dilutive effects are only calculated on ordinary shares as of fiscal year 2011.

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11. Taxes
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13. Cash and cash equivalents

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