Income per Share

3 Months Ended

Apr. 02, 2017

The following table presents the basis for the income per share computations:



	Three Months Ended
	April 2, 2017			April 3, 2016

	(In Thousands)
Numerator:
Net income	$	25,581		$	16,358
Less: Net loss attributable to noncontrolling interest	(106		)	(99		)
Less: Preferred stock dividends	8,733			—
Net income attributable to Belden common stockholders	$	16,954		$	16,457
Denominator:
Weighted average shares outstanding, basic	42,216			42,008
Effect of dilutive common stock equivalents	459			379
Weighted average shares outstanding, diluted	42,675			42,387

For the three months ended April 2, 2017 and April 3, 2016, diluted weighted average shares outstanding do not include outstanding equity awards of 0.3 million and 0.9 million, respectively, because to do so would have been anti-dilutive. In addition, for the three months ended April 2, 2017 and April 3, 2016, diluted weighted average shares outstanding do not include outstanding equity awards of 0.2 million and 0.1 million, respectively, because the related performance conditions have not been satisfied. Furthermore, for the three months ended April 2, 2017, diluted weighted average shares outstanding do not include the impact of preferred shares that are convertible into 6.9 million common shares because deducting the preferred stock dividends from net income was more dilutive.

For purposes of calculating basic earnings per share, unvested restricted stock units are not included in the calculation of basic weighted average shares outstanding until all necessary conditions have been satisfied and issuance of the shares underlying the restricted stock units is no longer contingent. Necessary conditions are not satisfied until the vesting date, at which time holders of our restricted stock units receive shares of our common stock.

For purposes of calculating diluted earnings per share, unvested restricted stock units are included to the extent that they are dilutive. In determining whether unvested restricted stock units are dilutive, each issuance of restricted stock units is considered separately.

Once a restricted stock unit has vested, it is included in the calculation of both basic and diluted weighted average shares outstanding.