Common Equity

Automatic Dividend Reinvestment and Stock Purchase Plan

The Company issued 60,779 shares and 129,112 shares, respectively, of common stock under its Automatic Dividend Reinvestment and Stock Purchase Plan during the three and six months ended June 30, 2012 and received proceeds of $3.3 million and $6.9 million, respectively. The Company may, from time to time, issue additional shares under its Automatic Dividend Reinvestment and Stock Purchase Plan to fund capital requirements or working capital needs. At June 30, 2012, there were 2,239,931 shares of unissued common stock reserved for issuance under the Company's Automatic Dividend Reinvestment and Stock Purchase Plan.

Earnings Per Share

Basic earnings per share is calculated by dividing net income attributable to OGE Energy by the weighted average number of the Company's common shares outstanding during the period. In the calculation of diluted earnings per share, weighted average shares outstanding are increased for additional shares that would be outstanding if potentially dilutive securities were converted to common stock. Potentially dilutive securities for the Company consist of performance units. Basic and diluted earnings per share for the Company were calculated as follows:



	Three Months Ended				Six Months Ended
	June 30,				June 30,
(In millions)	2012		2011		2012		2011
Net Income Attributable to OGE Energy	$	93.9	$	103.0	$	131.0	$	127.8
Average Common Shares Outstanding
Basic average common shares outstanding	98.6		98.0		98.4		97.8
Effect of dilutive securities:
Contingently issuable shares (performance units)	0.3		1.3		0.4		1.4
Diluted average common shares outstanding	98.9		99.3		98.8		99.2
Basic Earnings Per Average Common Share Attributable to OGE Energy Common Shareholders	$	0.95	$	1.05	$	1.33	$	1.31
Diluted Earnings Per Average Common Share Attributable to OGE Energy Common Shareholders	$	0.95	$	1.04	$	1.33	$	1.29
Anti-dilutive shares excluded from earnings per share calculation	—		—		—		—