EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2022

12. EARNINGS PER SHARE

Basic earnings per share

Basic earnings per share is calculated by dividing the profit attributable to equity holders of Ferrari by the weighted average number of common shares issued and outstanding during the period.

The following table provides the amounts used in the calculation of basic earnings per share for the years ended December 31, 2022, 2021 and 2020:


		For the years ended December 31,
		2022	2021	2020
Profit attributable to owners of the Company	€ thousand	932,614	830,767	607,817
Weighted average number of common shares for basic earnings per common share	thousand	182,836	184,446	184,806
Basic earnings per common share	€	5.11	4.50	3.29

Diluted earnings per share

For the years ended December 31, 2022, 2021 and 2020, the weighted average number of shares for diluted earnings per share was increased to take into consideration the theoretical effect of the potential common shares that would be issued for the Group’s equity incentive plans (assuming 100 percent of the target awards vested). See Note 21 “Share-Based Compensation” for additional details related to the Group’s equity incentive plans.

The following table provides the amounts used in the calculation of diluted earnings per share for the years ended December 31, 2022, 2021 and 2020:


		For the years ended December 31,
		2022	2021	2020
Profit attributable to owners of the Company	€ thousand	932,614	830,767	607,817
Weighted average number of common shares for diluted earnings per common share	thousand	183,072	184,722	185,379
Diluted earnings per common share	€	5.09	4.50	3.28