Table:
|  | 2019 |  | 2018 |  |
| --- | --- | --- | --- | --- |
|  | TOTAL | PER SHARE | TOTAL | PER SHARE |
| Net earnings attributable to common shareholders | 3,040 | 3.37 | 2,785 | 3.10 |
| Severance, acquisition and other costs | 83 | 0.10 | 100 | 0.11 |
| Net mark-to-market losses (gains) on derivatives used to economically hedge equity settled share-based compensation plans | (101) | (0.11) | 58 | 0.07 |
| Net (gains) losses on investments | 44 | 0.05 | 47 | 0.05 |
| Early debt redemption costs | 13 | 0.01 | 15 | 0.02 |
| Impairment charges | 74 | 0.08 | 146 | 0.16 |
| Adjusted net earnings | 3,153 | 3.50 | 3,151 | 3.51 |
Paragraphs:
ADJUSTED NET EARNINGS AND ADJUSTED EPS
The terms adjusted net earnings and adjusted EPS do not have any standardized meaning under IFRS. Therefore, they are unlikely to be comparable to similar measures presented by other issuers.
We define adjusted net earnings as net earnings attributable to common shareholders before severance, acquisition and other costs, net mark-to-market losses (gains) on derivatives used to economically hedge equity settled share-based compensation plans, net losses (gains) on investments, early debt redemption costs and impairment charges, net of tax and NCI. We define adjusted EPS as adjusted net earnings per BCE common share.
We use adjusted net earnings and adjusted EPS, and we believe that certain investors and analysts use these measures, among other ones, to assess the performance of our businesses without the effects of severance, acquisition and other costs, net mark-to-market losses (gains) on derivatives used to economically hedge equity settled share-based compensation plans, net losses (gains) on investments, early debt redemption costs and impairment charges, net of tax and NCI. We exclude these items because they affect the comparability of our financial results and could potentially distort the analysis of trends in business performance. Excluding these items does not imply they are non-recurring
The most comparable IFRS financial measures are net earnings attributable to common shareholders and EPS.
The following table is a reconciliation of net earnings attributable to common shareholders and EPS to adjusted net earnings on a consolidated basis and per BCE common share (adjusted EPS), respectively.
Question:
How is adjusted net earnings defined?
Answer: net earnings attributable to common shareholders before severance, acquisition and other costs, net mark-to-market losses (gains) on derivatives used to economically hedge equity settled share-based compensation plans, net losses (gains) on investments, early debt redemption costs and impairment charges, net of tax and NCI