Vectren 2013 Annual Report Download - page 103
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101
Year Ended December 31,
(In millions, except per share data) 2013 2012 2011
Numerator:
Numerator for basic EPS $ 136.6 $ 159.0 $ 141.6
Add back earnings attributable to participating securities — — —
Reported net income (Numerator for Diluted EPS) $ 136.6 $ 159.0 $ 141.6
Denominator:
Weighted average common shares outstanding (Basic EPS) 82.3 82.0 81.8
Conversion of share based compensation arrangements 0.1 0.1 0.0
Adjusted weighted average shares outstanding and
assumed conversions outstanding (Diluted EPS) 82.4 82.1 81.8
Basic earnings per share $ 1.66 $ 1.94 $ 1.73
Diluted earnings per share $ 1.66 $ 1.94 $ 1.73
For the years ended December 31, 2013 , 2012, and 2011, all options and equity based instruments were dilutive.
15. Accumulated Other Comprehensive Income
A summary of the components of and changes in Accumulated other comprehensive income for the past three years follows:
2011 2012 2013
Beginning
of Year Changes
During End
of Year Changes
During End
of Year Changes
During End
of Year
(In millions) Balance Year Balance Year Balance Year Balance
Unconsolidated affiliates $ (6.6) $ (9.3) $ (15.9) $ 11.3 $ (4.6) $ 4.6 $ —
Pension & other benefit costs (4.9) (1.7) (6.6) 4.0 (2.6) 1.4 (1.2)
Cash flow hedges 4.0 (3.9) 0.1 (0.1) — — —
Deferred income taxes 3.1 6.0 9.1 (6.2) 2.9 (2.4) 0.5
Accumulated other
comprehensive income (loss) $ (4.4) $ (8.9) $ (13.3) $ 9.0 $ (4.3) $ 3.6 $ (0.7)
Accumulated other comprehensive income arising from unconsolidated affiliates was previously primarily the Company’s portion
of ProLiance Holdings, LLC’s accumulated comprehensive income related to use of cash flow hedges. (See Note 7 for more
information on ProLiance.)
16. Share-Based Compensation & Deferred Compensation Arrangements
The Company has share-based compensation programs to encourage Company officers, key non-officer employees, and non-
employee directors to remain with the Company and to more closely align their interests with those of the Company’s
shareholders. Under these programs, the Company has in the past issued stock options and both performance-based and time-
based awards. All share-based compensation programs are shareholder approved. Currently, awards issued to officers of the
Company, which comprise a substantial majority of the awards issued, are performance-based, are settled in cash, and
dividends that accrue are also subject to performance measures. In addition, the Company maintains a deferred compensation
plan for executives and non-employee directors where participants can invest earned compensation and vested share-based
awards in phantom Company stock units, among other options. Certain vesting grants provide for accelerated vesting if there is
a change in control or upon the participant’s retirement.