Earnings Per Share (Notes)

9 Months Ended

Sep. 30, 2011

Components of basic and diluted earnings per share were as follows:



	Three Months Ended September 30,				Nine Months Ended September 30,
	2011		2010		2011		2010
Numerator (in millions):
Net income attributable to Portland General Electric Company common shareholders	$	27	$	49	$	118	$	100
Denominator (in thousands):
Weighted-average common shares outstanding - basic	75,342		75,295		75,329		75,267
Dilutive effect of unvested restricted stock units and employee stock purchase plan shares	16		16		16		15
Weighted-average common shares outstanding - diluted	75,358		75,311		75,345		75,282
Earnings per share:
Basic	$	0.36	$	0.65	$	1.57	$	1.32
Diluted	$	0.36	$	0.65	$	1.57	$	1.32

Unvested performance stock units and related dividend equivalent rights are not included in the computation of dilutive securities because vesting of these instruments is dependent upon three-year performance periods and the vesting criteria have not been met as of the end of the reporting period presented.

Basic and diluted earnings per share amounts are calculated based on actual amounts rather than the rounded amounts presented in the table above and on the condensed consolidated statements of income. Accordingly, calculations using the rounded amounts presented for net income and weighted average shares outstanding may yield results that vary from the earnings per share amounts presented in the table above.