CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands		Total	Common Stock	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Total Stockholders' Equity
Common stock, shares at Dec. 31, 2012			156,745,542
Stockholders' equity at Dec. 31, 2012			$ 989,334	$ 443,569	$ (18,048)	$ 1,414,855
NET INCOME		$ 233,506		233,506		233,506
Repurchase and retirement of common stock, shares			(163,320)
Repurchase and retirement of common stock			$ (4,885)			(4,885)
Dividends declared on common stock				(84,129)		(84,129)
Stock option exercises, shares			499,014
Stock option exercises			$ 8,165			8,165
Shares issued under the Employee Stock Purchase Plan, shares			77,097
Shares issued under the Employee Stock Purchase Plan			$ 1,877			1,877
Issuance of restricted stock			384,576
Forfeiture of restricted stock, shares			(42,114)
Forfeiture of restricted stock				24		24
Share-based compensation, net of forfeitures			$ 15,642			15,642
Tax benefit for excess tax deductions of share-based compensation			$ 4,302			4,302
Other comprehensive (loss) income, net of tax (Note 13)		24,375			24,375	24,375
Common stock, shares at Dec. 31, 2013			157,500,795
Stockholders' equity at Dec. 31, 2013			$ 1,014,435	592,970	6,327	1,613,732
NET INCOME	[1],[2]	244,083		244,083		244,083
Repurchase and retirement of common stock, shares			(3,673,226)
Repurchase and retirement of common stock			$ (134,284)			(134,284)
Dividends declared on common stock				(95,595)		(95,595)
Stock option exercises, shares			1,011,750
Stock option exercises			$ 18,650			18,650
Shares issued under the Employee Stock Purchase Plan, shares			69,230
Shares issued under the Employee Stock Purchase Plan			$ 2,063			2,063
Issuance of restricted stock			321,139
Forfeiture of restricted stock, shares			(88,721)
Forfeiture of restricted stock				92		92
Share-based compensation, net of forfeitures			$ 14,560			14,560
Tax benefit for excess tax deductions of share-based compensation			$ 7,767			7,767
Other comprehensive (loss) income, net of tax (Note 13)		$ (1,511)			(1,511)	(1,511)
Common stock, shares at Dec. 31, 2014		155,140,967	155,140,967
Stockholders' equity at Dec. 31, 2014		$ 1,669,557	$ 923,191	741,550	4,816	1,669,557
NET INCOME	[2],[3]	242,406		242,406		242,406
Repurchase and retirement of common stock, shares			(4,201,847)
Repurchase and retirement of common stock			$ (137,081)			(137,081)
Dividends declared on common stock				(108,425)		(108,425)
Stock option exercises, shares			1,203,376
Stock option exercises			$ 11,352			11,352
Shares issued under the Employee Stock Purchase Plan, shares			76,041
Shares issued under the Employee Stock Purchase Plan			$ 2,283			2,283
Issuance of restricted stock			259,039
Forfeiture of restricted stock, shares			(58,209)
Forfeiture of restricted stock				64		64
Stock issued during period, shares, performance share award, gross			287,464
Stock issued during period, shares, performance share award, forfeited			(7,754)
Share-based compensation, net of forfeitures			$ 17,609			17,609
Tax benefit for excess tax deductions of share-based compensation			11,707			11,707
Other comprehensive (loss) income, net of tax (Note 13)		$ (551)			(551)	(551)
Stockholders' equity, other			$ 150			150
Common stock, shares at Dec. 31, 2015		152,699,077	152,699,077
Stockholders' equity at Dec. 31, 2015		$ 1,709,071	$ 829,211	$ 875,595	$ 4,265	$ 1,709,071

[1] During the second quarter of 2014, we incurred a loss on extinguishment of debt of $29.2 million related to the tender of ITC Holdings Senior Notes as described in Note 8, which resulted in an estimated reduction to net income of $18.2 million.

[2] During the year ended December 31, 2015 and the fourth quarter of 2014, we recognized an aggregate estimated regulatory liability for the potential refunds relating to the ROE complaints as described in Note 16, which resulted in a reduction in operating revenues and operating income of $115.1 million and $46.9 million and an estimated $73.2 million and $28.9 million reduction to net income for the years ended December 31, 2015 and 2014, respectively.

[3] During the third and fourth quarters of 2015, we recognized an aggregate regulatory liability for the refund relating to the formula rate template modifications filing as described in Note 4, which resulted in a reduction in operating revenues and operating income of $9.5 million and an estimated $6.2 million reduction to net income for the year ended December 31, 2015.