Stock-Based Compensation, Dividend Restrictions, and Calculations of Earnings Per Share of Common Stock (Tables)

12 Months Ended

Dec. 31, 2015

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of Restricted Stock and Restricted Stock Units

For performance-based restricted stock and restricted stock unit awards, the table reflects awards projected, for purposes of computing the weighted average grant date fair value, to achieve 100% of targeted performance criteria for each outstanding award cycle.

	Number of Shares			Weighted Average Grant Date Fair Value
Balance as of January 1, 2015
Restricted stock		54,165		$	26.80
Performance-based restricted stock		70,276			27.01
Time-based restricted stock units		468,958			19.61
Performance-based restricted stock units		827,981			17.73
Total		1,421,380
Granted during 2015
Performance-based restricted stock		48,347			26.10
Time-based restricted stock units		450,203			27.40
Performance-based restricted stock units		6,188			26.08
Total		504,738
Vested during 2015
Performance-based restricted stock		(93,906	)		26.78
Time-based restricted stock units		(288,429	)		20.61
Performance-based restricted stock units		(424,705	)		17.05
Total		(807,040	)
Forfeited during 2015
Time-based restricted stock units		(2,218	)		27.00
Performance-based restricted stock units		(826	)		19.33
Total		(3,044	)
Balance as of December 31, 2015 (a)
Restricted stock		54,165			26.80
Performance-based restricted stock		24,717			26.10
Time-based restricted stock units		628,514			24.71
Performance-based restricted stock units		408,638			18.56
Total		1,116,034

(a) The balance as of December 31, 2015 does not include 36,110 shares of restricted stock, 113,385 time-based restricted stock units and 104,628 performance-based restricted stock units that were vested for executives and 30,784 time-based restricted stock units that were vested for directors but had not yet settled.

Weighted Average Grant Date Fair Value Per Share

The following table provides the weighted average grant date fair value per share of those awards granted during each of the years ended December 31, 2015, 2014 and 2013:

	2015		2014		2013
Weighted average grant-date fair value of each restricted stock award granted during the year	$	—	$	26.80	$	—
Weighted average grant-date fair value of each performance-based restricted stock award granted during the year	$	26.10	$	27.01	$	—
Weighted average grant-date fair value of each time-based restricted stock unit award granted during the year	$	27.40	$	19.77	$	19.70
Weighted average grant-date fair value of each performance-based restricted stock unit award granted during the year	$	26.08	$	18.53	$	17.03

Dividends Received from Subsidiaries

For the years ended December 31, 2015, 2014 and 2013, dividends paid by PHI’s subsidiaries were as follows:

Subsidiary	2015		2014		2013
	(millions of dollars)
Pepco (paid to PHI)	$	146	$	86	$	46
DPL (paid to Conectiv)		92		100		30
ACE (paid to Conectiv)		12		26		60
Total	$	250	$	212	$	136

Calculation of Earnings Per Share of Common Stock

The numerator and denominator for basic and diluted earnings per share of common stock calculations are shown below.

	For the Year Ended December 31,
	2015		2014		2013
	(millions of dollars, except per share data)
Income (Numerator):
Net income from continuing operations	$	318	$	242	$	110
Net income (loss) from discontinued operations		9		—		(322	)
Net income (loss)	$	327	$	242	$	(212	)
Shares (Denominator) (in millions):
Weighted average shares outstanding for basic computation:
Average shares outstanding		253		251		246
Adjustment to shares outstanding		—		—		—
Weighted Average Shares Outstanding for Computation of Basic Earnings Per Share of Common Stock		253		251		246
Net effect of potentially dilutive shares (a)		1		1		—
Weighted Average Shares Outstanding for Computation of Diluted Earnings Per Share of Common Stock		254		252		246
Basic earnings per share of common stock from continuing operations	$	1.25	$	0.96	$	0.45
Basic earnings (loss) per share of common stock from discontinued operations		0.04		—		(1.31	)
Basic earnings (loss) per share	$	1.29	$	0.96	$	(0.86	)
Diluted earnings per share of common stock from continuing operations	$	1.25	$	0.96	$	0.45
Diluted earnings (loss) per share of common stock from discontinued operations		0.04		—		(1.31	)
Diluted earnings (loss) per share	$	1.29	$	0.96	$	(0.86	)

(a) There were no options to purchase shares of common stock that were excluded from the calculation of diluted earnings per share for the years ended December 31, 2015, 2014 and 2013.

Common Stock Reserved and Unissued

The following table presents Pepco Holdings’ common stock reserved and unissued at December 31, 2015:

Name of Plan	Number of Shares
DRP		4,584,077
Pepco Holdings Long-Term Incentive Plan (a)		6,946,614
Pepco Holdings 2012 Long-Term Incentive Plan		7,136,961
Pepco Holdings Retirement Savings Plan		3,456,261
Total		22,123,913

(a) No further awards will be made under this plan.