Earnings Per Share (Notes)

9 Months Ended

Sep. 30, 2013

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE

Basic earnings per share is computed based on the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed using the weighted average number of common shares outstanding and the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Potential common shares consist of: (1) employee stock purchase plan shares; (2) unvested time-based and performance-based restricted stock units along with associated dividend equivalent rights; and (3) shares issuable pursuant to an equity forward sale agreement (EFSA). See Note 6, Equity, for additional information on the EFSA and its impact on earnings per share. Unvested performance-based restricted stock units and associated dividend equivalent rights are included in dilutive potential common shares only after the performance criteria has been met. For the three and nine month periods ended September 30, 2013 and 2012, unvested performance-based restricted stock units and associated dividend equivalent rights of 439,891 and 469,149, respectively, were excluded from the dilutive calculation because the performance goals had not been met.

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

	Three Months Ended September 30,				Nine Months Ended September 30,
	2013		2012		2013		2012
Numerator (in millions):
Net income attributable to Portland General Electric Company common shareholders	$	31	$	38	$	58	$	113
Denominator (in thousands):
Weighted-average common shares outstanding—basic	77,637		75,528		76,401		75,486
Dilutive effect of potential common shares	693		13		302		14
Weighted-average common shares outstanding—diluted	78,330		75,541		76,703		75,500
Earnings per share—basic and diluted	$	0.40	$	0.50	$	0.76	$	1.49

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.