Earnings Per Share (EPS) and Dividends

12 Months Ended

Dec. 31, 2012

Earnings Per Share (EPS) And Dividends [Abstract]

Earnings Per Share (EPS) and Dividends

Earnings Per Share (EPS) and Dividends

EPS

Diluted EPS is calculated by dividing Net Income by the weighted average number of shares of common stock outstanding, including shares issuable upon exercise of stock options outstanding or vesting of restricted stock awards granted under our stock compensation plans and upon payment of performance units or restricted stock units. The following table shows the effect of these stock options, performance units and restricted stock units on the weighted average number of shares outstanding used in calculating diluted EPS:

	Years Ended December 31,
	2012				2011				2010
	Basic		Diluted		Basic		Diluted		Basic		Diluted
EPS Numerator:
(Millions)
Continuing Operations	$	1,275	$	1,275	$	1,407	$	1,407	$	1,557	$	1,557
Discontinued Operations	—		—		96		96		7		7
Net Income	$	1,275	$	1,275	$	1,503	$	1,503	$	1,564	$	1,564
EPS Denominator:
(Thousands)
Weighted Average Common Shares Outstanding	505,933		505,933		505,949		505,949		505,985		505,985
Effect of Stock Based Compensation Awards	—		1,153		—		1,033		—		1,060
Total Shares	505,933		507,086		505,949		506,982		505,985		507,045
EPS:
Continuing Operations	$	2.52	$	2.51	$	2.78	$	2.77	$	3.08	$	3.07
Discontinued Operations	—		—		0.19		0.19		0.01		0.01
Net Income	$	2.52	$	2.51	$	2.97	$	2.96	$	3.09	$	3.08

There were approximately 1.8 million, 1.8 million and 1.9 million stock options excluded from the weighted average common shares used for diluted EPS due to their antidilutive effect for the years ended December 31, 2012, 2011 and 2010, respectively. No other stock options had an antidilutive effect for the years ended December 31, 2012, 2011 or 2010.

Dividends

	Years Ended December 31,
Dividend Payments on Common Stock	2012		2011		2010
Per Share	$	1.42	$	1.37	$	1.37
in Millions	$	718	$	693	$	693

On February 19, 2013, PSEG’s Board of Directors approved a $0.36 per share common stock dividend for the first quarter of 2013.