6. EQUITY

A. EARNINGS PER COMMON SHARE

There are no material differences between our basic and diluted earnings per share amounts or our basic and diluted weighted-average number of common shares outstanding for the three months ended March 31, 2012 and 2011. The effects of performance share awards and stock options outstanding on diluted earnings per share are immaterial.

B. RECONCILIATION OF TOTAL EQUITY

PROGRESS ENERGY

The consolidated financial statements include the accounts of the Parent and its majority owned subsidiaries. Noncontrolling interests principally represent minority shareholders' proportionate share of the equity of a subsidiary and a VIE (See Note 1C).

The following table presents changes in total equity for the year to date:

(in millions)		Total Common Stock Equity		Noncontrolling Interests		Total Equity
Balance, December 31, 2011		$	10,021	$	4	$	10,025
Net income^(a)			150		0		150
Other comprehensive income			5		0		5
Issuance of shares through offerings and stock- based compensation plans (See Note 6C)			17		0		17
Dividends declared			(184)		0		(184)
Distributions to noncontrolling interests			0		(2)		(2)
Balance, March 31, 2012		$	10,009	$	2	$	10,011

Balance, December 31, 2010		$	10,023	$	4	$	10,027
Net income^(a)			184		(1)		183
Other comprehensive income			4		0		4
Issuance of shares through offerings and stock- based compensation plans (See Note 6C)			19		0		19
Dividends declared			(183)		0		(183)
Distributions to noncontrolling interests			0		(2)		(2)
Other			0		2		2
Balance, March 31, 2011		$	10,047	$	3	$	10,050

^(a)	For the three months ended March 31, 2012, consolidated net income of $152 million includes $2 million attributable to preferred shareholders of subsidiaries. For the three months ended March 31, 2011, consolidated net income of $185 million includes $2 million attributable to preferred shareholders of subsidiaries. Income attributable to preferred shareholders of subsidiaries is not a component of total equity and is excluded from the table above.

PEC

Interim disclosures of changes in equity are required if the reporting entity has less than wholly-owned subsidiaries, of which PEC has none. Therefore, an equity reconciliation for PEC has not been provided.

PEF

Interim disclosures of changes in equity are required if the reporting entity has less than wholly-owned subsidiaries, of which PEF has none. Therefore, an equity reconciliation for PEF has not been provided.

C. COMMON STOCK

At March 31, 2012 and December 31, 2011, we had 500 million shares of common stock authorized under our charter, of which 296 million and 295 million shares were outstanding, respectively. We periodically issue shares of common stock through the Progress Energy Investor Plus Plan (IPP), equity incentive plans and other benefit plans.

The following table presents information for our common stock issuances:

	Three months ended March 31
	2012			2011
(in millions)	Shares		Net Proceeds	Shares		Net Proceeds
Total issuances	0.8	$	3	1.0	$	8
Issuances through IPP	-		-	-		1

Equity And Comprehensive Income Disclosure [Line Items]

Equity

6. EQUITY

B. RECONCILIATION OF TOTAL EQUITY

PEF

Interim disclosures of changes in equity are required if the reporting entity has less than wholly-owned subsidiaries, of which PEF has none. Therefore, an equity reconciliation for PEF has not been provided.