Vetoquinol Universal Registration Document 2019

80   Vetoquinol  Universal Registration Document 2019  Financial report 6 CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements Analysis of net deferred taxes by type: €000 Dec 31, 2019 Dec 31, 2018 Intangible assets (4,055) (2,556) Component-based approach (net) 290 268 Other temporary differences (net) 1,699 1,614 Internal margin on inventories 2,680 2,888 Internal capital gain on sales of fixed assets - - Restatement of finance leases (36) (39) Employee benefits 2,005 1,727 Tax losses carried forward 287 - Regulated provisions (1,659) (1,404) Other (net)* 18 (21) TOTAL 1,230 2,476 Of which: Deferred tax assets 9,005 9,846 Deferred tax liabilities (7,775) (7,370) * including exchange differences. 6.5.18 Earnings per share 6.5.18.1 Basic earnings per share Basic earnings per share is calculated by dividing net income attributable to holders of common shares (net income Group share) by the weighted average number of common shares outstanding during the year, adjusted for the number of treasury shares held. €000 2019 2018 Net income attributable to holders of common shares (€000) 28,589 36,259 Weighted average number of common shares 11,881,902 11,881,902 Treasury shares at end of period (direct holding) (47,994) (37,994) Treasury shares at end of period (liquidity contract) (2,084) (3,107) Adjusted weighted average number of shares outstanding over the period 11,831,824 11,840,801 BASIC EARNINGS PER SHARE (€) 2.42 3.06