The two-class method of calculating EPS requires TECO Energy to calculate EPS for its common stock and its participating securities (time-vested restricted stock and performance-based restricted stock) based on dividends declared and the pro-rata share each has to undistributed earnings. The application of the two-class method did not have a material effect on TECO Energy’s EPS calculations.


(millions, except per share amounts)	2012		2011⁽¹⁾		2010⁽¹⁾

Basic earnings per share
Net income from continuing operations	$246.0		$250.8		$211.6
Amount allocated to nonvested participating shareholders	(0.8	)	(1.3	)	(1.5)

Income before discontinued operations available to common shareholders - Basic	$245.2		$249.5		$210.1

Income (loss) from discontinued operations attributable to TECO Energy, net	($33.3	)	$21.8		$27.4
Amount allocated to nonvested participating shareholders	0.1		(0.1	)	(0.2)

Income (loss) from discontinued operations attributable to TECO Energy available to common shareholders - Basic	($33.2	)	$21.7		$27.2

Net income attributable to TECO Energy	$212.7		$272.6		$239.0
Amount allocated to nonvested participating shareholders	(0.7	)	(1.4	)	(1.7)

Net income attributable to TECO Energy available to common shareholders - Basic	$212.0		$271.2		$237.3

Average common shares outstanding - Basic	214.3		213.6		212.6

Earnings per share from continuing operations available to common shareholders - Basic	$1.14		$1.17		$0.99

Earnings per share from discontinued operations attributable to TECO Energy available to common shareholders - Basic	($0.15	)	$0.10		$0.13

Earnings per share attributable to TECO Energy available to common shareholders - Basic	$0.99		$1.27		$1.12


Diluted earnings per share
Net income from continuing operations	$246.0		$250.8		$211.6
Amount allocated to nonvested participating shareholders	(0.8	)	(1.3	)	(1.5)

Income before discontinued operations available to common shareholders - Diluted	$245.2		$249.5		$210.1

Income (loss) from discontinued operations attributable to TECO Energy, net	($33.3	)	$21.8		$27.4
Amount allocated to nonvested participating shareholders	0.1		(0.1	)	(0.2)

Income (loss) from discontinued operations attributable to TECO Energy available to common shareholders - Diluted	($33.2	)	$21.7		$27.2

Net income attributable to TECO Energy	$212.7		$272.6		$239.0
Amount allocated to nonvested participating shareholders	(0.7	)	(1.4	)	(1.7)

Net income attributable to TECO Energy available to common shareholders - Diluted	$212.0		$271.2		$237.3

Unadjusted average common shares outstanding - Diluted	214.3		213.6		212.6
Assumed conversion of stock options, unvested restricted stock and contingent performance shares, net	0.7		1.5		2.2

Average common shares outstanding - Diluted	215.0		215.1		214.8

Earnings per share from continuing operations available to common shareholders - Diluted	$1.14		$1.17		$0.98

Earnings per share from discontinued operations attributable to TECO Energy available to common shareholders - Diluted	($0.15	)	$0.10		$0.13

Earnings per share attributable to TECO Energy available to common shareholders - Diluted	$0.99		$1.27		$1.11

Anti-dilutive shares	0.4		1.7		2.7

(1)	All prior periods presented reflect the classification of TECO Guatemala as discontinued operations (see Note 19).