Earnings Per Share (Duke Energy Corp [Member])

12 Months Ended

Dec. 31, 2011

Duke Energy Corp [Member]

Earnings Per Share

18. Earnings Per Share

Basic Earnings Per Share (EPS) is computed by dividing net income attributable to Duke Energy common shareholders, adjusted for distributed and undistributed earnings allocated to participating securities, by the weighted-average number of common shares outstanding during the period. Diluted EPS is computed by dividing net income attributable to Duke Energy common shareholders, as adjusted for distributed and undistributed earnings allocated to participating securities, by the diluted weighted-average number of common shares outstanding during the period. Diluted EPS reflects the potential dilution that could occur if securities or other agreements to issue common stock, such as stock options, phantom shares and stock-based performance unit awards were exercised or settled.

The following table illustrates Duke Energy's basic and diluted EPS calculations and reconciles the weighted-average number of common shares outstanding to the diluted weighted-average number of common shares outstanding for the years ended December 31, 2011, 2010, and 2009.

(in millions, except per share amounts)	Income		Average     Shares		EPS
2011
Income from continuing operations attributable to Duke Energy common shareholders, as adjusted for participating securities—basic	$	1,702		1,332	$	1.28
Effect of dilutive securities:
Stock options, performance and restricted stock				1
Income from continuing operations attributable to Duke Energy common shareholders, as adjusted for participating securities—diluted	$	1,702		1,333	$	1.28
2010
Income from continuing operations attributable to Duke Energy common shareholders, as adjusted for participating securities—basic	$	1,315		1,318	$	1.00
Effect of dilutive securities:
Stock options, performance and restricted stock				1
Income from continuing operations attributable to Duke Energy common shareholders, as adjusted for participating securities—diluted	$	1,315		1,319	$	1.00
2009
Income from continuing operations attributable to Duke Energy common shareholders, as adjusted for participating securities—basic	$	1,061		1,293	$	0.82
Effect of dilutive securities:
Stock options, performance and restricted stock				1
Income from continuing operations attributable to Duke Energy common shareholders, as adjusted for participating securities—diluted	$	1,061		1,294	$	0.82

As of December 31, 2011, 2010 and 2009, 7 million, 13 million and 20 million, respectively, of stock options, unvested stock and performance awards were not included in the "effect of dilutive securities" in the above table because either the option exercise prices were greater than the average market price of the common shares during those periods, or performance measures related to the awards had not yet been met.

Beginning in the fourth quarter of 2008, Duke Energy began issuing authorized but previously unissued shares of common stock to fulfill obligations under its Dividend Reinvestment Plan (DRIP) and other internal plans, including 401(k) plans. During the years ended December 31, 2010 and 2009, Duke Energy received proceeds of $288 million and $494 million, respectively, from the sale of common stock associated with these plans.  Proceeds from the sale of common stock associated with these plans were not significant in 2011. Duke Energy has discontinued issuing new shares of common stock under the DRIP.