Equity (Notes)

3 Months Ended

Mar. 31, 2016

Equity [Abstract]

Equity

EQUITY

The activity in equity during the three months ended March 31, 2016 and 2015 is as follows (dollars in millions):

	Common Stock				Accumulated Other Comprehensive Loss			Retained Earnings
	Shares	Amount									Total
Balances as of December 31, 2015	88,792,751	$	1,196		$	(8	)	$	1,070		$	2,258
Issuances of shares pursuant to equity-based plans	106,608	—			—			—			—
Stock-based compensation	—	(1		)	—			—			(1		)
Dividends declared	—	—			—			(27		)	(27		)
Net income	—	—			—			61			61
Balances as of March 31, 2016	88,899,359	$	1,195		$	(8	)	$	1,104		$	2,291
Balances as of December 31, 2014	78,228,339	$	918		$	(7	)	$	1,000		$	1,911
Issuances of shares pursuant to equity-based plans	116,352	1			—			—			1
Stock-based compensation	—	(1		)	—			—			(1		)
Dividends declared	—	—			—			(22		)	(22		)
Net income	—	—			—			50			50
Balances as of March 31, 2015	78,344,691	$	918		$	(7	)	$	1,028		$	1,939

During the second quarter of 2015, PGE physically settled in full the EFSA, with the issuance of 10,400,000 shares of common stock in exchange for net proceeds of $271 million. Prior to settlement, the potentially issuable shares pursuant to the EFSA were reflected in PGE’s diluted earnings per share calculations using the treasury stock method. Under this method, the number of shares of PGE’s common stock used in calculating diluted earnings per share for a reporting period are increased by the number of shares, if any, that would be issued upon physical settlement of the EFSA less the number of shares that could be purchased by PGE in the market with the proceeds received from issuance (based on the average market price during that reporting period).