EARNINGS PER SHARE

Basic earnings per share is calculated by dividing the net income, adjusted for income allocated to participating securities, by the weighted average number of common shares outstanding during the period. Diluted earnings per share reflect the dilution that would occur if any potentially dilutive instruments were exercised or converted into common shares. DTE Energy's participating securities are restricted shares under the stock incentive program that contain rights to receive non-forfeitable dividends. Equity units, performance shares, and stock options do not receive cash dividends; as such, these awards are not considered participating securities. For additional information, see Notes 14 and 21 to Consolidated Financial Statements, "Long-Term Debt" and "Stock-Based Compensation," respectively.

The following is a reconciliation of DTE Energy's basic and diluted income per share calculation for the years ended December 31:



	2017			2016			2015
	(In millions, except per share amounts)
Basic Earnings per Share
Net Income Attributable to DTE Energy Company	$	1,134		$	868		$	727
Less: Allocation of earnings to net restricted stock awards	(2		)	(2		)	(2		)
Net income available to common shareholders — basic	$	1,132		$	866		$	725

Average number of common shares outstanding	179			179			179
Basic Earnings per Common Share	$	6.32		$	4.84		$	4.05

Diluted Earnings per Share
Net Income Attributable to DTE Energy Company	$	1,134		$	868		$	727
Less: Allocation of earnings to net restricted stock awards	(2		)	(2		)	(2		)
Net income available to common shareholders — diluted	$	1,132		$	866		$	725

Average number of common shares outstanding	179			179			179
Diluted Earnings per Common Share^(a)	$	6.32		$	4.83		$	4.05

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(a)	The 2016 Equity Units excluded from the calculation of diluted EPS were approximately 6 million and 7.1 million for the years ended December 31, 2017 and 2016, respectively, as the dilutive stock price threshold was not met. For more information, see Note 14 to the Consolidated Financial Statements, "Long-Term Debt."