Common Equity

Automatic Dividend Reinvestment and Stock Purchase Plan

The Company issued 89,868 shares of common stock under its Automatic Dividend Reinvestment and Stock Purchase Plan during the three months ended March 31, 2015 and received proceeds of $3.2 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, 2015, there were 4,901,944 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 and restricted stock 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)	2015		2014
Net Income	$	43.2	$	49.3
Average Common Shares Outstanding
Basic average common shares outstanding	199.5		198.8
Effect of dilutive securities:
Contingently issuable shares (performance and restricted stock units)	—		0.7
Diluted average common shares outstanding	199.5		199.5
Basic Earnings Per Average Common Share	$	0.22	$	0.25
Diluted Earnings Per Average Common Share	$	0.22	$	0.25
Anti-dilutive shares excluded from earnings per share calculation	—		—