Earnings Per Share (EPS) And Dividends

12 Months Ended

Dec. 31, 2011

Earnings Per Share (EPS) And Dividends [Abstract]

Earnings Per Share (EPS) and Dividends

Note 21. 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:

	For the Years Ended December 31,
	2011				2010				2009
	Basic		Diluted		Basic		Diluted		Basic			Diluted
EPS Numerator:
(Millions)
Continuing Operations	$	1,407	$	1,407	$	1,557	$	1,557	$	1,594		$	1,594
Discontinued Operations		96		96		7		7		(2	)		(2	)
Net Income	$	1,503	$	1,503	$	1,564	$	1,564	$	1,592		$	1,592
EPS Denominator:
(Thousands)
Weighted Average Common Shares Outstanding		505,949		505,949		505,985		505,985		505,986			505,986
Effect of Stock Based Compensation Awards		0		1,033		0		1,060		0			1,078
Total Shares		505,949		506,982		505,985		507,045		505,986			507,064
EPS:
Continuing Operations	$	2.78	$	2.77	$	3.08	$	3.07	$	3.15		$	3.14
Discontinued Operations		0.19		0.19		0.01		0.01		0.00			0.00
Net Income	$	2.97	$	2.96	$	3.09	$	3.08	$	3.15		$	3.14

There were approximately 1.8 million, 1.9 million and 1.6 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, 2011, 2010 and 2009, respectively. No other stock options had an antidilutive effect for the years ended December 31, 2011, 2010 or 2009.

Dividends

	For the Years Ended December 31,
Dividend Payments on Common Stock	2011		2010		2009
Per Share	$	1.37	$	1.37	$	1.33
in Millions	$	693	$	693	$	673

On February 21, 2012, PSEG's Board of Directors approved a $0.3550 per share common stock dividend for the first quarter of 2012.