Earnings Per Share

3 Months Ended

Mar. 31, 2015

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. Service-based and performance-based restricted stock granted by the Company is considered a participating security as these awards contain a non-forfeitable right to dividends.

The following table sets forth the computation of earnings per share for the three months ended March 31, 2015 and 2014 (in millions, except per share amounts):

	Three Months Ended March 31
	2015		2014
Numerator:
Net income attributable to Hubbell	$	62.4	$	64.2
Less: Earnings allocated to participating securities	0.2		0.2
Net income available to common shareholders	$	62.2	$	64.0
Denominator:
Average number of common shares outstanding	58.0		59.0
Potential dilutive common shares	0.3		0.5
Average number of diluted shares outstanding	58.3		59.5
Earnings per share:
Basic	$	1.07	$	1.08
Diluted	$	1.07	$	1.08

The Company did not have any significant anti-dilutive securities during the three months ended March 31, 2015 and 2014. The calculation of diluted earnings per share for the three months ended March 31, 2015 excludes 28,675 performance shares granted in December 2014 that are subject to a performance condition. Those shares are excluded from the calculation of diluted earnings per share for the three months ended March 31, 2015 because all necessary performance conditions have not been satisfied at the end of that reporting period.