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COMMON EQUITY (Tables)
 6 Months Ended
Jun. 30, 2013
Stockholders' Equity Note [Abstract]  
Schedule Of Shares Issued Roll Forward
We had the following changes to issued common stock during the six months ended June 30, 2013:
Common stock at December 31, 2012
 
78,287,906

Shares issued
 
 
     Stock Investment Plan
 
252,717

     Stock-based compensation
 
825,916

     Rabbi trust shares
 
90,000

Common stock at June 30, 2013
 
79,456,539
Schedule Of Common Stock Activity To Meet Requirements Of Stock Investment Plan And Certain Stock Based Employee Benefit And Compensation Plans
The following table provides a summary of common stock activity to meet the requirements of our Stock Investment Plan and certain stock-based employee benefit and compensation plans:
Period
 
Method of meeting requirements
Beginning 02/05/2013
 
Issuing new shares *
01/01/2012 – 02/04/2013
 
Purchased shares on the open market

* These stock issuances increased equity $55.5 million in 2013.
Reconciliation of shares issued and outstanding
The following table reconciles common shares issued and outstanding:
 
 
June 30, 2013
 
December 31, 2012
 
 
Shares
 
Average Cost *
 
Shares
 
Average Cost *
Common stock issued
 
79,456,539

 
 

 
78,287,906

 
 

Less:
 
 

 
 

 
 

 
 

Deferred compensation rabbi trust
 
462,381

 
$
48.33

 
385,439

 
$
46.03

Total common shares outstanding
 
78,994,158

 
 

 
77,902,467

 
 


*
Based on our stock price on the day the shares entered the deferred compensation rabbi trust. Shares paid out of the trust are valued at the average cost of shares in the trust.
Computation of basic and diluted earnings per share
The following table reconciles our computation of basic and diluted earnings per share:
 
 
Three Months Ended June 30
 
Six Months Ended June 30
(Millions, except per share amounts)
 
2013
 
2012
 
2013
 
2012
Numerator:
 
 

 
 

 
 

 
 

Net income (loss) from continuing operations
 
$
(3.9
)
 
$
51.7

 
$
178.3

 
$
150.5

Discontinued operations, net of tax
 
(0.8
)
 
(2.1
)
 
5.3

 
(1.2
)
Preferred stock dividends of subsidiary
 
(0.8
)
 
(0.8
)
 
(1.6
)
 
(1.6
)
Noncontrolling interest in subsidiaries
 
0.1

 
—

 
0.1

 
—

Net income (loss) attributed to common shareholders
 
$
(5.4
)
 
$
48.8

 
$
182.1

 
$
147.7

 
 
 
 
 
 
 
 
 
Denominator:
 
 

 
 

 
 

 
 

Average shares of common stock — basic
 
79.4

 
78.5

 
79.0

 
78.5

Effect of dilutive securities
 
 

 
 

 
 

 
 

Stock-based compensation
 
—

 
0.6

 
0.3

 
0.6

Deferred compensation
 
—

 
0.2

 
0.4

 
0.2

Average shares of common stock — diluted
 
79.4

 
79.3

 
$
79.7

 
$
79.3

 
 
 
 
 
 
 
 
 
Earnings (loss) per common share
 
 

 
 

 
 

 
 

Basic
 
$
(0.07
)
 
$
0.62

 
$
2.31

 
$
1.88

Diluted
 
(0.07
)
 
0.62

 
2.29

 
1.86
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block]
The following tables show the changes, net of tax, to our accumulated other comprehensive loss during the three and six months ended         June 30, 2013:
Three Months Ended June 30, 2013 (Millions)
 
Cash Flow Hedges
 
Defined Benefit Plans
 
Accumulated Other Comprehensive Income (Loss)
Beginning balance at March 31, 2013
 
$
(4.2
)
 
$
(35.1
)
 
$
(39.3
)
Other comprehensive income before reclassifications
 
0.6

 
—

 
0.6

Amounts reclassified out of accumulated other comprehensive loss
 
1.5

 
0.6

 
2.1

Net current period other comprehensive income
 
2.1

 
0.6

 
2.7

Ending balance at June 30, 2013
 
$
(2.1
)
 
$
(34.5
)
 
$
(36.6
)
Six Months Ended June 30, 2013 (Millions)
 
Cash Flow Hedges
 
Defined Benefit Plans
 
Accumulated Other Comprehensive Income (Loss)
Beginning balance at December 31, 2012
 
$
(5.2
)
 
$
(35.7
)
 
$
(40.9
)
Other comprehensive income before reclassifications
 
0.7

 
—

 
0.7

Amounts reclassified out of accumulated other comprehensive loss
 
2.4

 
1.2

 
3.6

Net current period other comprehensive income
 
3.1

 
1.2

 
4.3

Ending balance at June 30, 2013
 
$
(2.1
)
 
$
(34.5
)
 
$
(36.6
)
Capital transactions with subsidiaries
During the six months ended June 30, 2013, capital transactions with subsidiaries were as follows (in millions):
Subsidiary
 
Dividends To Parent
 
Return Of
 Capital To Parent
 
Equity Contributions
From Parent
ITF (1)
 
$
—

 
$
—

 
$
17.7

MERC
 
—

 
21.0

 
—

MGU
 
—

 
12.5

 
—

UPPCO
 
—

 
5.5

 
—

WPS
 
54.3

 
35.0

 
200.0

WPS Investments, LLC (2)
 
34.9

 
—

 
6.8

Total
 
$
89.2

 
$
74.0

 
$
224.5


(1) 
ITF is a direct wholly owned subsidiary of PELLC. As a result, it makes distributions to PELLC, and receives equity contributions from PELLC. Subject to applicable law, PELLC does not have any dividend restrictions or limitations on distributions to us.

(2) 
WPS Investments, LLC is a consolidated subsidiary that is jointly owned by us, WPS, and UPPCO. At June 30, 2013, we had an 86.02% ownership interest, while WPS and UPPCO had an 11.53% and 2.45% ownership interest, respectively. Distributions from WPS Investments, LLC are made to the owners based on their respective ownership percentages. During 2013, all equity contributions to WPS Investments, LLC were made solely by us.