Equity and Earnings Per Share (Tables)

3 Months Ended

Mar. 31, 2015

Earnings Per Share [Abstract]

Calculation of Earnings Per Share of Common Stock

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

	Three Months Ended March 31,
	2015		2014
	(millions of dollars, except per share data)
Income (Numerator):
Net Income	$	53	$	75
Shares (Denominator) (in millions):
Weighted average shares outstanding for basic computation:
Average shares outstanding		253		250
Adjustment to shares outstanding		—		1
Weighted Average Shares Outstanding for Computation of Basic Earnings Per Share of Common Stock		253		251
Net effect of potentially dilutive shares		—		—
Weighted Average Shares Outstanding for Computation of Diluted Earnings Per Share of Common Stock		253		251
Basic and Diluted Earnings per Share
Basic and diluted earnings per share	$	0.21	$	0.30