Earnings Per Share

3 Months Ended

Mar. 31, 2020

The following is a reconciliation of net earnings of Flowserve Corporation and weighted average shares for calculating net earnings per common share. Earnings per weighted average common share outstanding was calculated as follows:


	Three Months Ended March 31,
(Amounts in thousands, except per share data)	2020		2019
Net earnings (loss) of Flowserve Corporation	$	(610)	$	57,261
Dividends on restricted shares not expected to vest	—		—
Earnings (loss) attributable to common and participating shareholders	$	(610)	$	57,261
Weighted average shares:
Common stock	130,731		130,962
Participating securities	—		20
Denominator for basic earnings per common share	130,731		130,982
Effect of potentially dilutive securities	—		550
Denominator for diluted earnings per common share	130,731		131,532
Earnings (loss) per common share:
Basic	$	—	$	0.44
Diluted	—		0.44

Diluted earnings per share above is based upon the weighted average number of shares as determined for basic earnings per share plus shares potentially issuable in conjunction with stock options and Restricted Shares. As a result of the net loss for the three months ended March 31, 2020, we excluded 842,506 of unvested Restricted Shares from the calculation of diluted EPS due to their anti-dilutive effect.