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

12 Months Ended

Dec. 31, 2014

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.

				Weighted
	Number			Average Grant
	of Shares			Date Fair Value
Balance as of January 1, 2014 (a)
Restricted stock		—		$	—
Performance-based restricted stock		—			—
Time-based restricted stock units		583,554			19.34
Performance-based restricted stock units		1,069,830			19.06
Total		1,653,384
Granted during 2014
Restricted stock		183,486			26.80
Performance-based restricted stock		70,276			27.01
Time-based restricted stock units		222,350			19.77
Performance-based restricted stock units		448,107			18.53
Total		924,219
Vested during 2014
Restricted stock		(129,321	)		26.80
Time-based restricted stock units		(336,946	)		19.25
Performance-based restricted stock units		(349,020	)		21.07
Total		(815,287	)
Forfeited during 2014
Performance-based restricted stock units		(340,936	)		19.54
Total		(340,936	)
Balance as of December 31, 2014 (b)
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

(a) The balance as of January 1, 2014 does not include 59,523 time-based restricted stock units and 31,403 performance-based restricted stock units that were vested but had not yet settled.

(b) The balance as of December 31, 2014 does not include 36,110 shares of restricted stock, 94,685 time-based restricted stock units and 59,797 performance-based restricted stock units that were vested 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, 2014, 2013 and 2012:

	2014		2013		2012
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	$	27.01	$	—	$	—
Weighted average grant-date fair value of each unrestricted stock award granted during the year	$	—	$	—	$	18.85
Weighted average grant-date fair value of each time-based restricted stock unit award granted during the year	$	19.77	$	19.70	$	19.69
Weighted average grant-date fair value of each performance-based restricted stock unit award granted during the year	$	18.53	$	17.03	$	21.13

Dividends Received from Subsidiaries

For the years ended December 31, 2014, 2013 and 2012, dividends paid by PHI’s subsidiaries were as follows:

Subsidiary	2014		2013		2012
	(millions of dollars)
Pepco (paid to PHI)	$	86	$	46	$	35
DPL (paid to Conectiv)		100		30		—
ACE (paid to Conectiv)		26		60		35
Total	$	212	$	136	$	70

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 Years Ended December 31,
	2014		2013			2012
	(millions of dollars, except per share data)
Income (Numerator):
Net income from continuing operations	$	242	$	110		$	218
Net (loss) income from discontinued operations		—		(322	)		67
Net income (loss)	$	242	$	(212	)	$	285
Shares (Denominator) (in millions):
Weighted average shares outstanding for basic computation:
Average shares outstanding		251		246			229
Adjustment to shares outstanding		—		—			—
Weighted Average Shares Outstanding for Computation of Basic Earnings Per Share of Common Stock		251		246			229
Net effect of potentially dilutive shares (a)		1		—			1
Weighted Average Shares Outstanding for Computation of Diluted Earnings Per Share of Common Stock		252		246			230
Basic earnings per share of common stock from continuing operations	$	0.96	$	0.45		$	0.95
Basic (loss) earnings per share of common stock from discontinued operations		—		(1.31	)		0.30
Basic earnings (loss) per share	$	0.96	$	(0.86	)	$	1.25
Diluted earnings per share of common stock from continuing operations	$	0.96	$	0.45		$	0.95
Diluted (loss) earnings per share of common stock from discontinued operations		—		(1.31	)		0.29
Diluted earnings (loss) per share	$	0.96	$	(0.86	)	$	1.24

(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, 2014, 2013 and 2012.

Common Stock Reserved and Unissued

The following table presents Pepco Holdings’ common stock reserved and unissued at December 31, 2014:

Name of Plan	Number of Shares
DRP		4,982,016
Pepco Holdings Long-Term Incentive Plan (a)		6,946,614
Pepco Holdings 2012 Long-Term Incentive Plan		7,746,773
Pepco Holdings Non-Management Directors Compensation Plan (b)		457,211
Pepco Holdings Retirement Savings Plan		4,003,652
Total		24,136,266

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

(b) This plan expired by its terms on December 31, 2014.