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Earnings per share | 12 Months Ended
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Dec. 31, 2020
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Earnings per share | # 31. Earnings per s hare 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 2 4, respectively.
| 2020 |  | 2019 |  | 2018
Basic earnings per share |  |  |  |  |
Net income for the year of the Company | 893,383 |  | 373,526 |  | 1,150,421
Weighted average shares outstanding (in thousands) | 1,087,050 |  | 1,086,642 |  | 1,086,394
Basic earnings per share – R$ | 0.8218 |  | 0.3437 |  | 1.0589
Diluted earnings per share |  |  |  |  |
Net income for the year of the Company | 893,383 |  | 373,526 |  | 1,150,421
Weighted average shares outstanding (in thousands), including dilution effects | 1,093,478 |  | 1,092,826 |  | 1,092,566
Diluted earnings per share – R$ | 0.8170 |  | 0.3418 |  | 1.0530
Weighted average shares outstanding (in thousands) |  |  |  |  |
Weighted average shares outstanding for basic per share | 1,087,050 |  | 1,086,642 |  | 1,086,394
Dilution effect |  |  |  |  |
Subscription warrants – indemnification | 3,570 |  | 3,570 |  | 3,570
Deferred stock plan | 2,858 |  | 2,614 |  | 2,602
Weighted average shares outstanding for diluted per share | 1,093,478 |  | 1,092,826 |  | 1,092,566
Earnings per share were adjusted retrospectively by the issue of 2,195,520 common shares due to the partial exercise of the rights conferred by the subscription warrants disclosed in note 24 and by the issue of 70,939 common shares disclosed in note 35.b.

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