EARNINGS PER SHARE

6 Months Ended

Jun. 30, 2014

Notes To Consolidated Financial Statements [Abstract]

Earnings Per Share [Text Block]

13.       EARNINGS PER SHARE

Basic EPS is computed based upon the weighted average number of common shares outstanding during each period. Diluted EPS is computed on the basis of the weighted average number of common shares outstanding plus the potential dilutive effect of certain share-based compensation awardsas if they were converted into common shares. There were no antidilutive share awards outstanding forthe threeand six months ended June 30, 2014 or for the three months ended June 30, 2013. For thesix months ended June30,2013, there were3,150antidilutive share awards excluded from the computation.

The following table sets forth the components of basic and diluted EPS:

		For the Three Months Ended				For the Six Months Ended
(Millions of Dollars, except share information)		June 30, 2014		June 30, 2013		June 30, 2014		June 30, 2013
Net Income Attributable to Controlling Interest		$	127.4	$	171.0	$	363.3	$	399.1
Weighted Average Common Shares Outstanding:
	Basic		315,950,510		315,154,130		315,742,511		315,141,956
	Dilutive Effect		1,162,291		808,489		1,259,950		840,622
	Diluted		317,112,801		315,962,619		317,002,461		315,982,578
Basic EPS		$	0.40	$	0.54	$	1.15	$	1.27
Diluted EPS		$	0.40	$	0.54	$	1.15	$	1.26

RSUs and performance shares are included in basic weighted average common shares outstanding as of the date that all necessary vesting conditions have been satisfied. The dilutive effect of unvested RSUs and performance shares is calculated using the treasury stock method. Assumed proceeds of these units under the treasury stock method consist of the remaining compensation cost to be recognized and a theoretical tax benefit. The theoretical tax benefit is calculated as the tax impact of the intrinsic value of the units (the difference between the market value of the average units outstanding for the period, using the average market price during the period, and the grant date market value).

The dilutive effect of stock options to purchase common shares is also calculated using the treasury stock method. Assumed proceeds for stock options consist of cash proceeds that would be received upon exercise, and a theoretical tax benefit. The theoretical tax benefit is calculated as the tax impact of the intrinsic value of the stock options (the difference between the market value of the average stock options outstanding for the period, using the average market price during the period, and the exercise price).