EARNINGS PER SHARE

On May 9, 2018, 77,339,828 shares of our common stock were distributed to Dover stockholders in conjunction with the Separation. See Note 1—Basis of Presentation and Summary of Significant Accounting Policies for additional information. For comparative purposes, and to provide a more meaningful calculation of weighted-average shares outstanding, we have assumed the shares issued in conjunction with the Separation to be outstanding as of the beginning of each period prior to the Separation. In addition, we have assumed the potential dilutive securities outstanding as of May 8, 2018, were outstanding and fully dilutive in each of the periods with positive income prior to the Separation.

A reconciliation of the number of shares used for the basic and diluted earnings per share calculation was as follows:



	Years Ended December 31,
(in thousands, except per share data)	2018		2017		2016
Net income (loss) attributable to Apergy	$	94,041	$	111,734	$	(12,751	)

Weighted-average number of shares outstanding	77,342		77,340		77,340
Dilutive effect of stock-based compensation	350		550		—
Total shares and dilutive securities	77,692		77,890		77,340

Basic earnings (loss) per share attributable to Apergy	$	1.22	$	1.44	$	(0.16	)
Diluted earnings (loss) per share attributable to Apergy	$	1.21	$	1.43	$	(0.16	)