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Earnings Per Share | 12 Months Ended
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Dec. 31, 2019
Earnings Per Share |
Earnings Per Share | (17) Earnings Per Share The calculation of basic earnings per share is based on the profit for the year attributable to the shareholders of the Parent divided by the weighted average number of ordinary shares in circulation throughout the year, excluding treasury stock. Details of the calculation of basic earnings per share are as follows:
|  | Thousands of Euros
|  | 31/12/2019 |  | 31/12/2018 |  | 31/12/2017
Profit for the year attributable to shareholders of the Parent (thousands of Euros) |  | 625,146 |  | 596,642 |  | 662,700
Weighted average number of ordinary shares outstanding |  | 685,115,836 |  | 684,709,377 |  | 684,197,276
Basic earnings per share (Euros per share) |  | 0.91 |  | 0.87 |  | 0.97
The weighted average of the ordinary shares outstanding (basic) is as follows:
|  | Number of shares
|  | 31/12/2019 |  | 31/12/2018 |  | 31/12/2017
Issued shares outstanding at 1 January |  | 684,794,839 |  | 684,346,294 |  | 683,854,491
Effect of shares issued |  | — |  | — |  | —
Effect of treasury stock |  | 320,997 |  | 363,083 |  | 342,785
Average weighted number of ordinary shares outstanding (basic) at 31 December |  | 685,115,836 |  | 684,709,377 |  | 684,197,276
Diluted earnings per share are calculated by dividing profit for the year attributable to shareholders of the Parent by the weighted average number of ordinary shares in circulation considering the diluting effects of potential ordinary shares. The RSU Plan granted by the Group and payable in shares, assumes the existence of dilutive potential shares. Diluted earnings per share have been calculated as follows:
|  | Thousands of Euros
|  | 31/12/2019 |  | 31/12/2018 |  | 31/12/2017
Profit for the year attributable to shareholders of the Parent (thousands of Euros) |  | 625,146 |  | 596,642 |  | 662,700
Weighted average number of ordinary shares outstanding (diluted) |  | 684,719,195 |  | 684,686,164 |  | 684,243,891
Diluted earnings per share (Euros per share) |  | 0.91 |  | 0.87 |  | 0.97
The weighted average number of ordinary shares outstanding diluted has been calculated as follows:
|  | Number of shares
|  | 31/12/2019 |  | 31/12/2018 |  | 31/12/2017
Issued shares outstanding at 1 January |  | 684,794,839 |  | 684,346,294 |  | 683,854,491
Effect of RSU shares |  | (396,641) |  | (23,213) |  | 46,615
Effect of shares issued |  | — |  | — |  | —
Effect of treasury stock |  | 320,997 |  | 363,083 |  | 342,785
Average weighted number of ordinary shares outstanding (diluted) at 31 December |  | 684,719,195 |  | 684,686,164 |  | 684,243,891

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- Definition The entire disclosure for earnings per share. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IAS -Number 33 -IssueDate 2019-01-01 -Section Disclosure -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IAS&num=33&code=ifrs-tx-2019-en-r&doctype=Standard&dita_xref=IAS33_g70-73A_TI -URIDate 2019-03-27 + Details
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