Earnings Per Share

6 Months Ended

Jun. 30, 2016

The Company computes earnings per share using the two-class method, which is an earnings allocation formula that determines earnings per share for common stock and participating securities. Service-based and performance-based restricted stock awards granted by the Company are considered participating securities as these awards contain a non-forfeitable right to dividends.

The following table sets forth the computation of earnings per share for the three and six months ended June 30, 2016 and 2015 (in millions, except per share amounts):



	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
Numerator:
Net income attributable to Hubbell	$	81.0		$	80.1		$	141.9		$	142.5
Less: Earnings allocated to participating securities	(0.2		)	(0.2		)	(0.4		)	(0.4		)
Net income available to common shareholders	$	80.8		$	79.9		$	141.5		$	142.1
Denominator:
Average number of common shares outstanding	55.3			57.7			55.8			57.9
Potential dilutive common shares	0.3			0.3			0.2			0.3
Average number of diluted shares outstanding	55.6			58.0			56.0			58.2
Earnings per share:
Basic	$	1.46		$	1.39		$	2.54		$	2.46
Diluted	$	1.45		$	1.37		$	2.53		$	2.44

The Company did not have any significant anti-dilutive securities during the three and six months ended June 30, 2016 and 2015. The calculation of diluted earnings per share for the three and six months ended June 30, 2016 excludes 55,792 and 56,441, respectively, of performance shares that are subject to a performance condition. The calculation of diluted earnings per share for the three and six months ended June 30, 2015 excludes 28,096 and 28,403, respectively, of performance shares that are subject to a performance condition. These shares are excluded from the calculation of diluted earnings per share because all necessary performance conditions were not satisfied at the end of those reporting periods.