Note

25 – Earnings per share

a)	Earning per share basic

Net income attributable to ITAÚ UNIBANCO HOLDING’s shareholders is divided by the average number of outstanding shares in the period, excluding treasury shares.


	01/01 to 12/31/2018			01/01 to 12/31/2017			01/01 to 12/31/2016
Net income attributable to owners of the parent company		24,907			23,193			21,627
Minimum non-cumulative dividend on preferred shares		(104	)		(105	)		(105	)
Retained earnings to be distributed to common equity owners in an amount per share equal to the minimum dividend payable to preferred equity owners		(109	)		(110	)		(111	)
Retained earnings to be distributed, on a pro-rata basis, to common and preferred equity owners
Common		12,599			11,828			11,002
Preferred		12,095			11,150			10,409
Total net income available to equity owners:
Common		12,708			11,938			11,113
Preferred		12,199			11,255			10,514
Weighted average number of shares outstanding (Note 19a)
Common		4,958,290,359			5,021,834,934			5,027,611,714
Preferred		4,759,872,085			4,734,030,111			4,756,823,490
Earnings per share - Basic – R$
Common		2.56			2.38			2.21
Preferred		2.56			2.38			2.21

b)	Earnings per share diluted

Calculated similarly to the basic earnings per share; however, it includes the conversion of all preferred shares potentially dilutable in the denominator.


	01/01 to 12/31/2018			01/01 to 12/31/2017			01/01 to 12/31/2016
Total net income available to preferred equity owners		12,199			11,255			10,514
Dividend on preferred shares after dilution effects		72			76			74
Net income available to preferred equity owners considering preferred shares after the dilution effect		12,271			11,331			10,588

Total net income available to ordinary equity owners		12,708			11,938			11,113
Dividend on preferred shares after dilution effects		(72	)		(76	)		(74	)
Net income available to ordinary equity owners considering preferred shares after the dilution effect		12,636			11,862			11,039

Adjusted weighted average of shares (Note 19a)
Common		4,958,290,359			5,021,834,934			5,027,611,714
Preferred		4,815,473,777			4,796,645,028			4,821,864,280
Preferred		4,759,872,085			4,734,030,111			4,756,823,490
Incremental from stock options granted under our share-based payment		55,601,692			62,614,917			65,040,790

Earnings per share - diluted – R$
Common		2.55			2.36			2.20
Preferred		2.55			2.36			2.20

Potential anti-dilution effects of shares under our share-based payment, excluded from the calculation of diluted earnings per share, totaled 538,312 preferred shares at 12/31/2017 and 13,938,070 preferred shares at 12/31/2016. In 2018 doesn’t have this effect.