Earnings Per Share

12 Months Ended

Dec. 31, 2014

Earnings Per Share [Abstract]

Earnings Per Share

Earnings Per Share

The Company computes earnings per share using the two-class method, which is an earnings allocation formula that determines earnings per share for common stock and participating securities. Restricted stock granted by the Company is considered a participating security since it contains a non-forfeitable right to dividends.

The following table sets forth the computation of earnings per share for the three years ended December 31 (in millions, except per share amounts):

	2014		2013		2012
Numerator:
Net income attributable to Hubbell	$	325.3	$	326.5	$	299.7
Less: Earnings allocated to participating securities	0.9		1.0		1.0
Net income available to common shareholders	$	324.4	$	325.5	$	298.7
Denominator:
Average number of common shares outstanding	58.8		59.1		59.1
Potential dilutive shares	0.4		0.5		0.7
Average number of diluted shares outstanding	59.2		59.6		59.8
Earnings per share:
Basic	$	5.51	$	5.51	$	5.05
Diluted	$	5.48	$	5.47	$	5.00

The Company did not have any significant anti-dilutive securities in 2014, 2013 or 2012. In December 2014, the Company granted 28,871 performance shares that are subject to a performance condition. Those shares are excluded from the calculation of 2014 diluted earnings per share because all necessary performance conditions have not been satisfied at the end of the reporting period. Refer to Note 17 - Stock-Based Compensation for further information about those awards.