EARNINGS PER COMMON SHARE:

The following table sets forth the computation of basic and diluted earnings per common share for the three and nine months ended September 30, 2017 and 2016 (in thousands, except per share amounts):



	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2017		2016		2017		2016
Numerator:
Net income attributable to Genesee & Wyoming Inc.	$	50,240	$	56,785	$	122,485	$	132,203
Denominators:
Weighted average Class A common shares outstanding – Basic	61,629		57,266		61,518		57,160
Weighted average Class B common shares outstanding	723		793		743		793
Dilutive effect of employee stock-based awards	125		121		138		130
Weighted average shares – Diluted	62,477		58,180		62,399		58,083

Earnings per common share attributable to Genesee & Wyoming Inc. common stockholders:
Basic earnings per common share	$	0.82	$	0.99	$	1.99	$	2.31
Diluted earnings per common share	$	0.80	$	0.98	$	1.96	$	2.28

The Company's weighted average basic shares outstanding for the three and nine months ended September 30, 2017 included 4,000,000 shares as a result of the Company's public offering of Class A Common Stock on December 13, 2016.

The following total number of shares of Class A Common Stock issuable under the assumed exercise of stock-based awards computed based on the treasury stock method were excluded from the calculation of diluted earnings per common share, as the effect of including these shares would have been antidilutive (in thousands):



	Three Months Ended		Nine Months Ended
	September 30,		September 30,
	2017	2016	2017	2016
Antidilutive shares	1,245	1,174	1,302	1,292