Common Equity

Forward Stock Split

On May 16, 2013, the Company's Board of Directors approved a 2-for-1 forward stock split of the Company's common stock, effective July 1, 2013, which entitled each shareholder of record to receive two shares for every one share of Company stock owned by the shareholder. In connection with the stock split, an amendment to the Company's Articles of Incorporation was approved on May 16, 2013 which increased the number of authorized shares of common stock from 225 million to 450 million. All share and per share amounts within this Form 10-Q reflect the effects of the stock split.

Automatic Dividend Reinvestment and Stock Purchase Plan

The Company issued 98,476 shares of common stock under its Automatic Dividend Reinvestment and Stock Purchase Plan during the three months ended March 31, 2014 and received proceeds of $3.4 million. 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 March 31, 2014, there were 3,747,027 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
	March 31,
(In millions except per share data)	2014		2013
Net Income Attributable to OGE Energy	$	49.3	$	23.1
Average Common Shares Outstanding
Basic average common shares outstanding	198.8		197.8
Effect of dilutive securities:
Contingently issuable shares (performance units)	0.7		1.0
Diluted average common shares outstanding	199.5		198.8
Basic Earnings Per Average Common Share Attributable to OGE Energy Common Shareholders	$	0.25	$	0.12
Diluted Earnings Per Average Common Share Attributable to OGE Energy Common Shareholders	$	0.25	$	0.12
Anti-dilutive shares excluded from earnings per share calculation	—		—