EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2015

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. For the three months ended March 31, 2015 and 2014, there were no antidilutive share awards excluded from the computation.

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

		For the Three Months Ended
(Millions of Dollars, except share information)		March 31, 2015		March 31, 2014
Net Income Attributable to Controlling Interest		$	253.3	$	236.0
Weighted Average Common Shares Outstanding:
	Basic		317,090,841		315,534,512
	Dilutive Effect		1,400,347		1,357,607
	Diluted		318,491,188		316,892,119
Basic EPS		$	0.80	$	0.75
Diluted EPS		$	0.80	$	0.74

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).