Equity and Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2014

PHI’s basic and diluted earnings per share (EPS) calculations are shown below:


	Three Months Ended March 31,
	2014		2013
	(millions of dollars, except per share data)
Income (Numerator):
Net Income (loss) from continuing operations	$	75	$	(111	)
Net Loss from discontinued operations		—		(319	)

Net Income (loss)	$	75	$	(430	)

Shares (Denominator) (in millions):
Weighted average shares outstanding for basic computation:
Average shares outstanding		250		237
Adjustment to shares outstanding		1		—

Weighted Average Shares Outstanding for Computation of Basic Earnings Per Share of Common Stock		251		237
Net effect of potentially dilutive shares (a)		—		—

Weighted Average Shares Outstanding for Computation of Diluted Earnings Per Share of Common Stock		251		237

Basic and Diluted Earnings per Share
Earnings (loss) per share of common stock from continuing operations	$	0.30	$	(0.47	)
Loss per share of common stock from discontinued operations		—		(1.35	)

Basic and diluted earnings (loss) per share	$	0.30	$	(1.82	)

(a)	There were no options to purchase shares of common stock that were excluded from the calculation of diluted EPS for each of the three months ended March 31, 2014 and 2013.