Earnings Per Share

12 Months Ended

Dec. 31, 2015

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):



	2015			2014			2013
Numerator:
Net income attributable to Hubbell	$	277.3		$	325.3		$	326.5
Less: Earnings allocated to participating securities	(0.7		)	(0.9		)	(1.0		)
Net income available to common shareholders	$	276.6		$	324.4		$	325.5
Denominator:
Average number of common shares outstanding	57.7			58.8			59.1
Potential dilutive shares	0.3			0.4			0.5
Average number of diluted shares outstanding	58.0			59.2			59.6
Earnings per share:
Basic	$	4.79		$	5.51		$	5.51
Diluted	$	4.77		$	5.48		$	5.47

The Company did not have any significant anti-dilutive securities in 2015, 2014 or 2013. The calculation of diluted earnings per share for the year ended December 31, 2015 excludes 27,758 and 32,687 weighted average of performance shares granted in December 2014 and December 2015, respectively, that are subject to a performance condition. These shares are excluded from the calculation of 2015 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.