(6) Earnings Per Common Share (EPS)

Basic EPS and diluted EPS are calculated by dividing net income attributable to Tutor Perini Corporation by the following: for basic EPS, the weighted-average number of common shares outstanding during the period; and for diluted EPS, the sum of the weighted-average number of both outstanding common shares and potentially dilutive securities, which for the Company can include restricted stock units, unexercised stock options and the Convertible Notes, as defined in Note 8, Financial Commitments. In accordance with ASC 260, Earnings Per Share (“ASC 260”), the settlement of the principal amount of the Convertible Notes has no impact on diluted EPS because the Company has the intent and ability to settle the principal amount in cash. The Company calculates the effect of the potentially dilutive restricted stock units and stock options using the treasury stock method.



	Three Months Ended March 31,
(in thousands, except per common share data)	2019		2018
Net loss attributable to Tutor Perini Corporation	$	(356)	$	(12,124)

Weighted-average common shares outstanding, basic		50,098		49,814
Effect of dilutive restricted stock units and stock options		—		—
Weighted-average common shares outstanding, diluted		50,098		49,814

Net loss attributable to Tutor Perini Corporation per common share:
Basic	$	(0.01)	$	(0.24)
Diluted	$	(0.01)	$	(0.24)

Anti-dilutive securities not included above		4,518		4,507

All restricted stock units and stock options that were outstanding during the three months ended March 31, 2019 and 2018 were excluded from weighted-average diluted shares outstanding for the periods, as the shares would have an anti-dilutive effect on the net losses. Since the Company has the intent and ability to settle the principal amount of the Convertible Notes in cash, per ASC 260, the settlement of the principal amount was excluded from the calculation of diluted EPS.