Weighted Average Shares Outstanding

12 Months Ended

Dec. 31, 2017

Basic and diluted earnings per share, as presented in the consolidated income statements, are calculated by dividing net income attributable to Knight-Swift by the respective weighted average common shares outstanding during the period.

The following table reconciles basic weighted average shares outstanding to diluted weighted average shares outstanding:



	December 31,
	2017	2016	2015
	(In thousands)
Basic weighted average common shares outstanding	110,657	80,362	81,491
Dilutive effect of equity awards	1,040	866	976
Diluted weighted average common shares outstanding	111,697	81,228	82,467
Anti-dilutive shares excluded from diluted earnings per share ⁽¹⁾	98	886	388

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(1)	Shares were excluded from the dilutive-effect calculation because the outstanding options' exercise prices were greater than the average market price of Knight's common stock (for 2015 and 2016) and the Company's Class A common stock (for 2017).