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 22, respectively.
| Basic Earnings per Share | 2017 | 2016 | 2015 | ||
| Net income for the year of the Company | 1,574,306 | 1,561,585 | 1,503,466 | ||
| Weighted average shares outstanding (in thousands) | 541,813 | 541,391 | 543,775 | ||
| Basic earnings per share –R$ | 2.9056 | 2.8844 | 2.7649 | ||
| Diluted Earnings per Share | 2017 | 2016 | 2015 | ||
| Net income for the year of the Company | 1,574,306 | 1,561,585 | 1,503,466 | ||
| Weighted average shares outstanding (in thousands), including deferred stock plan and subscription warrants - indemnification |
545,740 | 545,509 | 548,054 | ||
| Diluted earnings per share –R$ | 2.8847 | 2.8626 | 2.7433 | ||
| Weighted Average Shares Outstanding (in thousands) | 2017 | 2016 | 2015 | ||
| Weighted average shares outstanding for basic per share calculation | 541,813 | 541,391 | 543,775 | ||
| Dilution effect | |||||
| Subscription warrants - indemnification | 2,395 | 2,267 | 2,161 | ||
| Deferred Stock Plan | 1,532 | 1,851 | 2,118 | ||
| Weighted average shares outstanding for diluted per share calculation | 545,740 | 545,509 | 548,054 |