101 AGL Energy Limited Annual Report 2012 2012  $m 2011  $m Note 36 – Retained earnings Balance at beginning of financial year 2,194.0  1,892.6  Adjustment on correction of unbilled distribution liability, net of income tax (Note 3) (79.9) –  Restated balance at beginning of financial year 2,114.1  1,892.6  Profit for the year attributable to owners of AGL Energy Limited 114.9  558.7  Dividends paid or provided (Note 11) (278.2) (268.4) Actuarial (loss)/gain on defined benefit plans, net of tax (49.0) 2.5  Share of actuarial (loss)/gain on defined benefit plans attributable to associates (18.2) 8.6  Balance at end of financial year 1,883.6  2,194.0 2012  Restated (a)  2011  Note 37 – Earnings per share (EPS) Statutory earnings per share Basic earnings per share 23.8 cents 118.5 cents Diluted earnings per share 23.8 cents 118.4 cents Underlying earnings per share Basic earnings per share 100.0 cents 91.4 cents Diluted earnings per share 99.9 cents 91.4 cents 2012  $m 2011  $m Earnings used in calculating basic and diluted earnings per share Profit for the year attributable to owners of AGL Energy Limited 114.9  558.7  Statutory earnings used to calculate basic and diluted EPS 114.9  558.7  Significant expense items after income tax 155.1  27.3  Loss/(gain) in fair value of financial instruments after income tax 212.0  (154.9) Underlying earnings used to calculate basic and diluted EPS 482.0  431.1  2012  Number Restated (a)  2011  Number Weighted average number of ordinary shares Number of ordinary shares used in the calculation of basic EPS pre adjusting for bonus element of the rights issue 466,950,538 456,469,567  Bonus element of the rights issue 15,288,603  15,022,413  Number of ordinary shares used in the calculation of basic EPS 482,239,141  471,491,980  Effect of dilution – LTIP share performance rights 109,855  398,995  Number of ordinary shares used in the calculation of diluted EPS 482,348,996  471,890,975 (a) In accordance with AASB 133  Earnings per Share , the comparative earnings per share calculations for 2011 have been restated for the bonus element of the one-for-six share rights issue undertaken  in June 2012. The previously reported 2011 weighted average number of shares has been adjusted by a factor of 1.0329 being the market price of one ordinary share at the close of the last day at  which the shares traded together with the rights of $14.93, divided by the theoretical ex-rights price per share of $14.45. Other information relating to the rights issue is included in Note 34.