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dorami刀刀 · 2020年03月12日

问一道题：NO.PZ2016012102000039

  1. CFA I
  2. FRA

问题如下：

Given the following information, calculate the company's diluted EPS:

company has net income of $200,000 and 150,000 common shares outstanding from the beginning of the year. Company also has 1,000, 8%, $1,000 par bonds convertible into 24 shares each,

outstanding as of the beginning of the year. The tax rate is 35%.

选项：

A.

$1.1.

B.

$1.3

C.

$2.17.

解释：

Basic EPS = $200,000150,000=$1.3\frac{\$200,000}{150,000}=\$1.3

Check if the convertible bonds are dilutive:

Impact of numerator= (1,000 x 1,000 x 0.08) x (1 - 0.35) = $52,000

Impact of denominator = (1,000 x 24) = 24,000 shares

Impact per share =

$52,00024,000shares=$2.17\frac{\$52,000}{24,000shares}=\$2.17

$2.17 > basic EPS of $1.3, so the bonds are antidilutive. Then the diluted EPS = basic EPS = $1.3.

请问老师，为什么diluted eps不是等于（200000+52000）/（150000+24000）

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1 个答案

Olive_品职助教 · 2020年03月13日

嗨，努力学习的PZer你好：


这么算也可以，老师上课讲过两种判断方法。最终结果是一样的。

你这么算出来diluted EPS=1.45，大于basic EPS，说明是antidilutive，最终的diluted EPS还是等于baisic EPS。


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