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Earnings per Share | 12 Months Ended
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Dec. 31, 2019
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Earnings per Share | 32. Earnings per Share The table below presents a reconciliation of numerators and denominators used in computing earnings per share. The Company has a deferred stock plan and subscription warrants—indemnification, as mentioned in Notes 8.c and 25, respectively.
|  | 2019 |  |  | 2018 |  |  | 2017 |
Basic Earnings per Share |  |  |  |  |  |  |  |  |  |  |  |
Net income for the year of the Company |  |  | 373,526 |  |  |  | 1,150,421 |  |  |  | 1,526,505 |
Weighted average shares outstanding (in thousands) |  |  | 1,086,485 |  |  |  | 1,086,237 |  |  |  | 1,083,825 |
Basic earnings per share – R$ |  |  | 0.3438 |  |  |  | 1.0591 |  |  |  | 1.4084 |
Diluted Earnings per Share |  |  |  |  |  |  |  |  |  |  |  |
Net income for the year of the Company |  |  | 373,526 |  |  |  | 1,150,421 |  |  |  | 1,526,505 |
Weighted average shares outstanding (in thousands), including dilution effects |  |  | 1,091,653 |  |  |  | 1,091,335 |  |  |  | 1,091,605 |
Diluted earnings per share – R$ |  |  | 0.3422 |  |  |  | 1.0541 |  |  |  | 1.3984 |
Weighted Average Shares Outstanding (in thousands) |  |  |  |  |  |  |  |  |  |  |  |
Weighted average shares outstanding for basic per share calculation |  |  | 1,086,485 |  |  |  | 1,086,237 |  |  |  | 1,083,825 |
Dilution effect |  |  |  |  |  |  |  |  |  |  |  |
Subscription warrants—indemnification |  |  | 2,554 |  |  |  | 2,496 |  |  |  | 4,791 |
Deferred Stock Plan |  |  | 2,614 |  |  |  | 2,602 |  |  |  | 3,064 |
Weighted average shares outstanding for diluted per share calculation |  |  | 1,091,653 |  |  |  | 1,091,335 |  |  |  | 1,091,605 |
Earnings per share were adjusted retrospectively as disclosure in Note 26.a. and by the issue of 2,108,542 common shares due to the partial exercise of the rights conferred by the subscription warrants disclosed in note 36.

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