Earnings Per Share (EPS) and Dividends

12 Months Ended

Dec. 31, 2013

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,
	2013				2012				2011
	Basic		Diluted		Basic		Diluted		Basic		Diluted
EPS Numerator:
(Millions)
Continuing Operations	$	1,243	$	1,243	$	1,275	$	1,275	$	1,407	$	1,407
Discontinued Operations	—		—		—		—		96		96
Net Income	$	1,243	$	1,243	$	1,275	$	1,275	$	1,503	$	1,503
EPS Denominator:
(Thousands)
Weighted Average Common Shares Outstanding	505,889		505,889		505,933		505,933		505,949		505,949
Effect of Stock Based Compensation Awards	—		1,636		—		1,153		—		1,033
Total Shares	505,889		507,525		505,933		507,086		505,949		506,982
EPS:
Continuing Operations	$	2.46	$	2.45	$	2.52	$	2.51	$	2.78	$	2.77
Discontinued Operations	—		—		—		—		0.19		0.19
Net Income	$	2.46	$	2.45	$	2.52	$	2.51	$	2.97	$	2.96

There were approximately 1.6 million, 1.8 million and 1.8 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, 2013, 2012 and 2011, respectively. No other stock options had an antidilutive effect for the years ended December 31, 2013, 2012 or 2011.

Dividends

	Years Ended December 31,
Dividend Payments on Common Stock	2013		2012		2011
Per Share	$	1.44	$	1.42	$	1.37
in Millions	$	728	$	718	$	693

On February 18, 2014, PSEG’s Board of Directors approved a $0.37 per share common stock dividend for the first quarter of 2014.