Earnings Per Share (Notes)

6 Months Ended

Jun. 30, 2014

Earnings Per Share [Abstract]

EARNINGS PER SHARE

EARNINGS PER SHARE

Basic earnings per share is computed based on the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed using the weighted average number of common shares outstanding and the effect of dilutive potential common shares outstanding during the period using the treasury stock method. Potential common shares consist of: i) employee stock purchase plan shares; ii) unvested time-based and performance-based restricted stock units, along with associated dividend equivalent rights; and iii) shares issuable pursuant to an equity forward sale agreement (EFSA). See Note 6, Equity, for additional information on the EFSA and its impact on earnings per share. Unvested performance-based restricted stock units and associated dividend equivalent rights are included in dilutive potential common shares only after the performance criteria have been met. For the three and six month periods ended June 30, 2014 and 2013, unvested performance-based restricted stock units and associated dividend equivalent rights of approximately 365,000 and 435,000, respectively, were excluded from the dilutive calculation because the performance goals had not been met.

Net income (loss) attributable to PGE common shareholders is the same for both the basic and diluted earnings (loss) per share computations. The reconciliations of the denominators of the basic and diluted earnings (loss) per share computations are as follows (in thousands):

	Three Months Ended June 30,		Six Months Ended June 30,
	2014	2013	2014	2013
Weighted-average common shares outstanding—basic	78,183	75,935	78,154	75,772
Dilutive effect of potential common shares	1,868	—	1,588	121
Weighted-average common shares outstanding—diluted	80,051	75,935	79,742	75,893

Due to PGE’s net loss position for the three months ended June 30, 2013, shares of approximately 228,000 related to shares issuable pursuant to the EFSA and unvested restricted stock units shares were excluded from the diluted weighted average common shares outstanding as their effect would have been anti-dilutive.