EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2014

Notes To Consolidated Financial Statements [Abstract]

Earnings Per Share [Text Block]

14.       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 nine months ended September 30, 2014 or for the three months ended September 30, 2013.For thenine months ended September 30,2013, there were 2,100antidilutive 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 Nine Months Ended
(Millions of Dollars, except share information)		September 30, 2014		September 30, 2013		September 30, 2014		September 30, 2013
Net Income Attributable to Controlling Interest		$	234.6	$	209.5	$	597.9	$	608.6
Weighted Average Common Shares Outstanding:
	Basic		316,340,691		315,291,346		315,941,904		315,191,752
	Dilutive Effect		1,214,234		926,893		1,244,586		869,379
	Diluted		317,554,925		316,218,239		317,186,490		316,061,131
Basic and Diluted EPS		$	0.74	$	0.66	$	1.89	$	1.93

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).