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Earnings Per Share - CMS Energy
 12 Months Ended
Dec. 31, 2013
Earnings Per Share - CMS Energy [Abstract]  
Earnings Per Share - CMS Energy

14:EARNINGS PER SHARE – CMS ENERGY

Presented in the following table are CMS Energy’s basic and diluted EPS computations based on income from continuing operations:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

In Millions, Except Per Share Amounts  

Years Ended December 31
2013 
2012 
2011 

 

Income available to common stockholders

 

 

 

 

 

 

 

 

 

 

Income from continuing operations

 

$
454 

 

$
377 

 

$
415 

 

Less income attributable to noncontrolling interests

 

 
2 

 

 
2 

 

 
2 

 

Income from continuing operations available to
   common stockholders – basic and diluted

 

$
452 

 

$
375 

 

$
413 

 

Average common shares outstanding

 

 

 

 

 

 

 

 

 

 

Weighted-average shares – basic

 

 
264.5 

 

 
260.7 

 

 
250.8 

 

Add dilutive contingently convertible securities

 

 
6.4 

 

 
6.8 

 

 
12.2 

 

Add dilutive non-vested stock awards and options

 

 
1.0 

 

 
1.1 

 

 
0.4 

 

Weighted-average shares – diluted

 

 
271.9 

 

 
268.6 

 

 
263.4 

 

Income from continuing operations per average

 

 

 

 

 

 

 

 

 

 

common share available to common stockholders

 

 

 

 

 

 

 

 

 

 

Basic

 

$
1.71 

 

$
1.43 

 

$
1.65 

 

Diluted

 

 
1.66 

 

 
1.39 

 

 
1.57 

 

 

Contingently Convertible Securities

When CMS Energy has earnings from continuing operations, its contingently convertible securities dilute EPS to the extent that the conversion value of a security, which is based on the average market price of CMS Energy common stock, exceeds the principal value of that security.

Non‑vested Stock Awards

CMS Energy’s non‑vested stock awards are composed of participating and non‑participating securities.  The participating securities accrue cash dividends when common stockholders receive dividends.  Since the recipient is not required to return the dividends to CMS Energy if the recipient forfeits the award, the non‑vested stock awards are considered participating securities.  As such, the participating non‑vested stock awards were included in the computation of basic EPS.  The non‑participating securities accrue stock dividends that vest concurrently with the stock award.  If the recipient forfeits the award, the stock dividends accrued on the non‑participating securities are also forfeited.  Accordingly, the non‑participating awards and stock dividends were included in the computation of diluted EPS, but not basic EPS.