UNS ENERGY EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2013

Effects of Dilutive Common Stock on Weighted-Average Number of Shares

The following table illustrates the effect of dilutive securities on net income and weighted average Common Stock outstanding:



	Years Ended December 31,
	2013		2012		2011
	Thousands of Dollars
Numerator:
Net Income	$	127,478	$	90,919	$	109,975
Income from Assumed Conversion of Convertible Senior Notes ⁽¹⁾	—		1,100		4,390
Adjusted Net Income Available for Diluted Common Stock Outstanding	$	127,478	$	92,019	$	114,365

	Thousands of Shares
Denominator:
Weighted Average Shares of Common Stock Outstanding:
Common Shares Issued	41,446		40,212		36,780
Fully Vested Deferred Stock Units	172		150		129
Participating Securities	—		—		53
Total Weighted Average Common Stock Outstanding and Participating Securities—Basic	41,618		40,362		36,962
Effect of Dilutive Securities:
Convertible Senior Notes ⁽¹⁾	—		1,062		4,281
Options and Stock Issuable Under Share-Based Compensation Plans	357		331		366
Total Weighted Average Common Stock Outstanding —Diluted	41,975		41,755		41,609


⁽¹⁾	In 2012, the Convertible Senior Notes were converted to Common Stock or redeemed for cash.

Number of Stock Options to Purchase Shares of Common Stock Excluded from Computation of Diluted Earning Per Share

We excluded the following outstanding stock options, with an exercise price above market, and contingently issuable shares from our diluted EPS computation as their effect would be anti-dilutive:



	Years Ended December 31,
	2013	2012	2011
	Thousands of Shares
Stock Options	—	50	153
Restricted Stock Units	6	—	—
Total Anti-Dilutive Shares Excluded from the Diluted EPS Computation	6	50	153