EARNINGS PER SHARE

3 Months Ended

Jun. 30, 2015

Notes To Consolidated Financial Statements [Abstract]

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 awards as if they were converted into common shares. For the three and six months ended June 30, 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:

Eversource		For the Three Months Ended				For the Six Months Ended
(Millions of Dollars, except share information)		June 30, 2015		June 30, 2014		June 30, 2015		June 30, 2014
Net Income Attributable to Controlling Interest		$	207.5	$	127.4	$	460.8	$	363.3

Weighted Average Common Shares Outstanding:
	Basic		317,613,166		315,950,510		317,352,004		315,742,511
	Dilutive Effect		946,402		1,162,291		1,173,374		1,259,950
	Diluted		318,559,568		317,112,801		318,525,378		317,002,461
Basic and Diluted EPS		$	0.65	$	0.40	$	1.45	$	1.15

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).