Earnings Per Share

12 Months Ended

Dec. 31, 2018

The Company’s non-vested restricted stock that was granted prior to March 2015 is considered a participating security since the share-based awards contain a non-forfeitable right to dividends irrespective of whether the awards ultimately vest. Unvested share-based payment awards that contain non-forfeitable rights to dividends are participating securities and are included in the computation of earnings per share pursuant to the two-class method. The two-class method of computing earnings per share is an earnings allocation formula that determines earnings per share for common stock and any participating securities according to dividends declared (whether paid or unpaid) and participation rights in undistributed earnings.

The computation of basic and diluted earnings per share is as follows:



(in thousands except per common share data)	Year ended December 31,
(in thousands except per common share data)	2018		2017		2016
Net income (loss) attributable to The Andersons, Inc.	$	41,484	$	42,511	$	11,594
Less: Distributed and undistributed earnings allocated to non-vested restricted stock	—		1		9
Earnings (losses) available to common shareholders	$	41,484	$	42,510	$	11,585
Earnings per share – basic:
Weighted average shares outstanding – basic	28,258		28,126		28,193
Earnings (losses) per common share – basic	$	1.47	$	1.51	$	0.41
Earnings per share – diluted:
Weighted average shares outstanding – basic	28,258		28,126		28,193
Effect of dilutive awards	194		170		238
Weighted average shares outstanding – diluted	28,452		28,296		28,431
Earnings (losses) per common share – diluted	$	1.46	$	1.50	$	0.41

There were 13 thousand and 22 thousand antidilutive share-based awards outstanding at December 31, 2018 and December 31, 2017, respectively. No antidilutive share-based awards were outstanding at December 31, 2016.