The Macquarie Income Preferred Securities (MIPS) represent the NCI of a subsidiary. Refer to note 29—Reserves, retained earnings  and non-controlling interests for further details on these instruments. MBL can redirect the payments of distributions under the  convertible debentures to be paid to itself. For each debenture 500 MBL preference shares may be substituted at MBL's discretion  at any time, in certain circumstances (to meet capital requirements), or on maturity. (1) The Convertible Preference Securities have been included in diluted earnings per share weighted for the period through their date of  redemption, to the extent to which they were dilutive based on the conversion features measured at their date of redemption.  Consolidated 2014  $m  Consolidated 2013  $m  Company  2014  $m  Company  2013  $m  Note 5  Dividends and distributions paid or provided for  continued  (iii) Distributions paid or provided for  Macquarie Income Securities  Distributions paid (net of distributions previously provided for)  14  17  –  –  Distributions provided for  4  4  –  –  Total distributions paid or provided for  18  21  –  –  The Macquarie Income Securities (MIS) represent the NCI of a subsidiary. Refer to note 29—Reserves, retained earnings and non- controlling interests for further details on these instruments. No dividends are payable under the preference shares until Macquarie  Bank Limited (MBL), a subsidiary, exercises its option to receive future payments of interest and principal under the stapled security.  Upon exercise, dividends on the preference shares are payable at the same rate, and subject to similar conditions, as the MIS.  Dividends are also subject to MBL Directors' discretion. Macquarie Income Preferred Securities  Distributions paid (net of distributions previously provided for)  2  2  –  –  Distributions provided for  2  2  –  –  Total distributions paid or provided for  4  4  –  –  Consolidated 2014  Consolidated 2013  Note 6  Earnings per share  Cents per share  Basic earnings per share  383.6  251.2  Diluted earnings per share  369.2  246.1  Reconciliation of earnings used in the calculation of basic and diluted earnings per share  $m  $m  Profit after income tax  1,279  872  Add (profit)/loss attributable to non-controlling interests:  Macquarie Income Securities  (18)  (21)  Macquarie Income Preferred Securities  (4)  (4)  Other non-controlling interests  8  4  Total profit attributable to ordinary equity holders of MGL  1,265  851  Less profit attributable to participating unvested MEREP awards (91)  (61)  Total earnings used in the calculation of basic earnings per share  1,174  790  Add back adjusted interest expense on Macquarie Group Capital Notes  14  –  Add back adjusted interest expense on Macquarie Convertible Preference Securities (1) 7  35  Add back adjusted interest expense on Exchangeable Capital Securities  9  13  Add back profit attributable to dilutive participating unvested MEREP awards  73  39  Total earnings used in the calculation of diluted earnings per share  1,277  877  123 